Q4 2024 EPS Estimates for TrueBlue, Inc. Cut by Analyst (NYSE:TBI)

TrueBlue, Inc. (NYSE:TBI) – Research analysts at Sidoti Csr dropped their Q4 2024 earnings per share estimates for TrueBlue in a research report issued on Tuesday, August 6th. Sidoti Csr analyst M. Riddick now anticipates that the business services provider will post earnings of ($0.01) per share for the quarter, down from their previous estimate of $0.02. The consensus estimate for TrueBlue’s current full-year earnings is $0.06 per share.

Several other research analysts also recently commented on TBI. BMO Capital Markets cut their target price on TrueBlue from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Robert W. Baird decreased their target price on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th.

TrueBlue Stock Up 2.0 %

Shares of TrueBlue stock opened at $8.05 on Wednesday. The stock has a market cap of $246.09 million, a price-to-earnings ratio of -21.76, a P/E/G ratio of 13.71 and a beta of 1.51. TrueBlue has a twelve month low of $7.65 and a twelve month high of $16.14. The company’s fifty day moving average is $10.59 and its 200 day moving average is $11.41.

TrueBlue (NYSE:TBI) last posted its earnings results on Monday, August 5th. The business services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30). TrueBlue had a positive return on equity of 3.02% and a negative net margin of 0.63%. The business had revenue of $396.00 million for the quarter, compared to the consensus estimate of $414.49 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The company’s revenue was down 16.7% compared to the same quarter last year.

Institutional Investors Weigh In On TrueBlue

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in TrueBlue by 12.8% in the fourth quarter. SG Americas Securities LLC now owns 19,931 shares of the business services provider’s stock valued at $306,000 after buying an additional 2,268 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of TrueBlue during the 4th quarter valued at $239,000. Russell Investments Group Ltd. boosted its stake in TrueBlue by 41.2% during the fourth quarter. Russell Investments Group Ltd. now owns 57,492 shares of the business services provider’s stock worth $882,000 after acquiring an additional 16,776 shares in the last quarter. Maryland State Retirement & Pension System bought a new stake in TrueBlue in the fourth quarter valued at $175,000. Finally, Charles Schwab Investment Management Inc. increased its stake in TrueBlue by 9.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 897,352 shares of the business services provider’s stock valued at $13,765,000 after purchasing an additional 76,624 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.