TriNet Group (NYSE:TNET) Issues FY 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 5.250-6.800 for the period, compared to the consensus EPS estimate of 6.650. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its FY24 guidance to $5.25-6.80 EPS.

Wall Street Analyst Weigh In

A number of research firms recently commented on TNET. TD Cowen upped their price target on shares of TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a report on Monday, March 4th. Needham & Company LLC reduced their price objective on shares of TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a research report on Friday. Stifel Nicolaus boosted their price objective on shares of TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, StockNews.com raised shares of TriNet Group from a hold rating to a buy rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, TriNet Group currently has an average rating of Moderate Buy and an average target price of $117.50.

TriNet Group Stock Down 16.8 %

Shares of NYSE:TNET traded down $21.30 during midday trading on Friday, reaching $105.48. The company’s stock had a trading volume of 774,169 shares, compared to its average volume of 229,489. The firm has a 50 day moving average of $128.43 and a 200-day moving average of $119.48. The firm has a market capitalization of $5.33 billion, a P/E ratio of 16.46 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 12.62. TriNet Group has a 12-month low of $79.00 and a 12-month high of $134.67.

TriNet Group (NYSE:TNET) last released its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. The firm had revenue of $326.00 million for the quarter, compared to the consensus estimate of $300.36 million. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. On average, research analysts anticipate that TriNet Group will post 5.79 earnings per share for the current year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is 15.41%.

Insider Activity at TriNet Group

In other TriNet Group news, SVP Alexander G. Warren sold 2,385 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total transaction of $293,521.95. Following the transaction, the senior vice president now owns 18,365 shares in the company, valued at approximately $2,260,180.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Alexander G. Warren sold 2,385 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total value of $293,521.95. Following the transaction, the senior vice president now owns 18,365 shares in the company, valued at approximately $2,260,180.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne B. Lowell sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the completion of the transaction, the director now owns 84,766 shares in the company, valued at approximately $10,360,100.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,052 shares of company stock valued at $3,837,142. 37.10% of the stock is owned by insiders.

TriNet Group Company Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.