TriNet Group (NYSE:TNET) Updates Q2 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.000-1.500 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $105.72 on Friday. 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 fifty-two week low of $79.00 and a fifty-two week high of $134.67. The firm has a 50-day simple moving average of $127.99 and a 200 day simple moving average of $119.38. The company has a market cap of $5.35 billion, a PE ratio of 17.33 and a beta of 1.09.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data 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. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. The business had revenue of $326.00 million during the quarter, compared to the consensus estimate of $300.36 million. On average, sell-side analysts anticipate that TriNet Group will post 5.79 EPS for the current year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is 16.39%.

Analyst Ratings Changes

Several research analysts have commented on TNET shares. TD Cowen upped their target price on shares of TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, March 4th. StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a research report on Monday, February 5th. Needham & Company LLC decreased their target price on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research report on Friday. Finally, Stifel Nicolaus upped their target price on shares of TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TriNet Group presently has an average rating of Moderate Buy and an average price target of $117.50.

Insider Activity at TriNet Group

In related news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Wayne B. Lowell sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the sale, the director now owns 84,766 shares in the company, valued at approximately $10,360,100.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samantha Wellington sold 14,271 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The disclosure for this sale can be found here. Insiders sold a total of 31,052 shares of company stock valued at $3,837,142 over the last ninety days. 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.