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

TriNet Group (NYSE:TNET) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 5.250-6.800 for the period, compared to the consensus earnings per share estimate of 5.940. 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TNET shares. Needham & Company LLC reduced their price target on shares of TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a research note on Friday, April 26th. StockNews.com cut TriNet Group from a buy rating to a hold rating in a research note on Monday, April 29th. Finally, TD Cowen lowered their price target on TriNet Group from $132.00 to $118.00 and set a buy rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $113.83.

TriNet Group Stock Performance

NYSE:TNET opened at $108.78 on Friday. TriNet Group has a 52 week low of $95.24 and a 52 week high of $134.67. The company has a fifty day simple moving average of $103.91 and a two-hundred day simple moving average of $114.62. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 17.83 and a beta of 1.19.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Friday, April 26th. The business services provider reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.36). TriNet Group had a return on equity of 124.38% and a net margin of 6.78%. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $380.41 million. As a group, equities analysts anticipate that TriNet Group will post 4.82 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were paid a $0.25 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. TriNet Group’s dividend payout ratio is currently 16.39%.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the sale, the director now directly owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now directly owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Alexander G. Warren sold 1,867 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the completion of the transaction, the senior vice president now owns 32,661 shares of the company’s stock, valued at approximately $3,388,252.14. The disclosure for this sale can be found here. Insiders own 37.10% of the company’s stock.

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.