TrueBlue (NYSE:TBI) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

TrueBlue (NYSE:TBI) released its quarterly earnings data on Wednesday. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14, FiscalAI reports. The business had revenue of $520.74 million for the quarter, compared to analysts’ expectations of $468.06 million. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%.

TrueBlue Price Performance

Shares of NYSE TBI traded up $0.20 during midday trading on Wednesday, reaching $9.79. 206,670 shares of the company traded hands, compared to its average volume of 304,902. The firm has a market cap of $298.01 million, a PE ratio of -5.21, a PEG ratio of 11.75 and a beta of 1.74. The stock’s 50-day simple moving average is $9.37 and its 200-day simple moving average is $6.82. TrueBlue has a 12 month low of $3.18 and a 12 month high of $11.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.28 and a current ratio of 2.28.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wall Street Zen raised TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueBlue in a report on Tuesday, September 29th. Finally, Robert W. Baird set a $9.50 price objective on shares of TrueBlue in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.75.

About TrueBlue

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.