TriNet Group (NYSE:TNET) Releases FY24 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $5.25-6.80 for the period, compared to the consensus EPS estimate of $6.78. TriNet Group also updated its Q2 guidance to $1.00-1.50 EPS.

TriNet Group Price Performance

TriNet Group stock opened at $126.78 on Friday. The stock’s fifty day moving average price is $128.43 and its two-hundred day moving average price is $119.48. TriNet Group has a one year low of $79.00 and a one year high of $134.67. The company has a debt-to-equity ratio of 12.62, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $6.41 billion, a PE ratio of 19.53 and a beta of 1.09.

TriNet Group (NYSE:TNET) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, beating 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 return on equity of 87.97% and a net margin of 7.62%. As a group, research analysts expect that TriNet Group will post 5.79 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Thursday, March 28th. TriNet Group’s dividend payout ratio is presently 15.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TNET shares. Needham & Company LLC reissued a buy rating and set a $150.00 price objective on shares of TriNet Group in a report on Friday, March 1st. StockNews.com raised TriNet Group from a hold rating to a buy rating in a research report on Monday, February 5th. TD Cowen raised their target price on TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Finally, Stifel Nicolaus raised their target price on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $119.17.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the transaction, the executive vice president now owns 48,562 shares in the company, valued at approximately $6,064,422.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Samantha Wellington sold 14,271 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne B. Lowell sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total value 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 quarter, insiders sold 31,052 shares of company stock worth $3,837,142. Insiders own 37.10% of the company’s stock.

About TriNet Group

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.