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

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.950-5.450 for the period, compared to the consensus estimate of 6.050. The company issued revenue guidance of $5.0 billion-$5.0 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its Q4 2024 guidance to 0.060-0.570 EPS.

Analysts Set New Price Targets

TNET has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of TriNet Group in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.40.

TriNet Group Stock Performance

NYSE:TNET traded down $11.32 on Friday, hitting $80.31. The stock had a trading volume of 2,086,121 shares, compared to its average volume of 283,668. TriNet Group has a 52-week low of $74.32 and a 52-week high of $134.67. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 13.57 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The business’s 50-day simple moving average is $96.79 and its two-hundred day simple moving average is $102.91.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Friday, October 25th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.14). TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The company had revenue of $288.00 million for the quarter, compared to the consensus estimate of $297.94 million. As a group, research analysts predict that TriNet Group will post 5.13 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. TriNet Group’s payout ratio is currently 16.89%.

Insider Transactions at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the sale, the director now directly owns 37,966 shares of the company’s stock, valued at $4,043,379. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the sale, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total transaction of $39,937.50. Following the completion of the transaction, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.