Wall Street analysts expect TriNet Group Inc (NYSE:TNET) to report $202.66 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for TriNet Group’s earnings, with the lowest sales estimate coming in at $199.34 million and the highest estimate coming in at $205.60 million. TriNet Group posted sales of $205.90 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that TriNet Group will report full-year sales of $859.03 million for the current year, with estimates ranging from $856.16 million to $862.54 million. For the next financial year, analysts anticipate that the company will post sales of $936.17 million, with estimates ranging from $916.80 million to $953.81 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover TriNet Group.
TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Monday, July 30th. The business services provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.27. The business had revenue of $220.00 million for the quarter, compared to analysts’ expectations of $208.41 million. TriNet Group had a net margin of 6.54% and a return on equity of 74.08%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS.
Several analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of TriNet Group in a research report on Friday, August 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Zacks Investment Research upgraded shares of TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Saturday, August 4th. Morgan Stanley raised their price objective on shares of TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. TriNet Group has an average rating of “Buy” and an average price target of $61.75.
Shares of TriNet Group stock opened at $53.57 on Tuesday. The firm has a market cap of $3.97 billion, a PE ratio of 31.15 and a beta of 2.40. TriNet Group has a 1-year low of $33.41 and a 1-year high of $60.15. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.18 and a current ratio of 1.18.
In other news, CEO Burton M. Goldfield sold 17,563 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $55.09, for a total transaction of $967,545.67. Following the sale, the chief executive officer now directly owns 212,883 shares in the company, valued at approximately $11,727,724.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Murphy sold 3,041 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $56.87, for a total transaction of $172,941.67. Following the sale, the insider now owns 27,418 shares in the company, valued at $1,559,261.66. The disclosure for this sale can be found here. Insiders have sold a total of 145,605 shares of company stock worth $8,179,014 over the last 90 days. Insiders own 38.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in TriNet Group in the 2nd quarter valued at $132,000. Point72 Asia Hong Kong Ltd bought a new stake in TriNet Group in the 1st quarter valued at $142,000. SG Americas Securities LLC bought a new stake in TriNet Group in the 1st quarter valued at $144,000. Mount Yale Investment Advisors LLC bought a new stake in TriNet Group in the 1st quarter valued at $151,000. Finally, Brown Advisory Inc. bought a new stake in TriNet Group in the 1st quarter valued at $232,000. Hedge funds and other institutional investors own 87.11% of the company’s stock.
About TriNet Group
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.
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