TriNet Group (NYSE:TNET) Releases 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 Trading Down 16.8 %

NYSE:TNET opened at $105.48 on Friday. The firm has a fifty day simple moving average of $127.99 and a two-hundred day simple moving average of $119.38. TriNet Group has a 12 month low of $79.00 and a 12 month high of $134.67. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 16.25 and a beta of 1.09. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62.

TriNet Group (NYSE:TNET) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $0.95 by $0.46. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. The company had revenue of $326.00 million during the quarter, compared to the consensus estimate of $300.36 million. Analysts expect that TriNet Group will post 5.79 EPS for the current fiscal year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. TriNet Group’s dividend payout ratio is 15.41%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TNET. Needham & Company LLC cut their target price on TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a report on Friday. TD Cowen raised their price objective on shares of TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research note on Monday, March 4th. StockNews.com raised shares of TriNet Group from a hold rating to a buy rating in a research report on Monday, February 5th. Finally, Stifel Nicolaus raised their price target on shares of TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research report on Friday, February 16th. One 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 data from MarketBeat.com, TriNet Group has an average rating of Moderate Buy and a consensus target price of $117.50.

Insiders Place Their Bets

In other news, SVP Alexander G. Warren sold 2,385 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the sale, the senior vice president now owns 18,365 shares in the company, valued at $2,260,180.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction on 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 sale, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the transaction, the senior vice president now directly owns 18,365 shares in the company, valued at approximately $2,260,180.55. The disclosure for this sale can be found here. Insiders have sold 31,052 shares of company stock valued at $3,837,142 in the last three months. 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.