TriNet Group (NYSE:TNET) Updates Q4 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.060-0.570 for the period, compared to the consensus EPS estimate of 1.160. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. TriNet Group also updated its FY 2024 guidance to 4.950-5.450 EPS.

TriNet Group Price Performance

Shares of NYSE:TNET opened at $87.65 on Friday. TriNet Group has a 12 month low of $87.65 and a 12 month high of $134.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The stock has a market cap of $4.35 billion, a P/E ratio of 15.48 and a beta of 1.17. The company has a 50 day moving average of $97.10 and a 200 day moving average of $103.26.

TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The firm had revenue of $310.00 million during the quarter, compared to the consensus estimate of $301.76 million. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. As a group, sell-side analysts forecast that TriNet Group will post 5.13 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 1st will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 1.14%. TriNet Group’s dividend payout ratio (DPR) is presently 16.89%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a research note on Wednesday, September 11th. JPMorgan Chase & Co. restated an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $118.40.

Insider Buying and Selling

In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,683 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the transaction, the director now owns 37,966 shares in the company, valued at $4,043,379. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by insiders.

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.