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

TriNet Group (NYSE:TNET) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.950-5.450 for the period, compared to the consensus EPS 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.

TriNet Group Trading Down 12.4 %

Shares of TNET traded down $11.32 during mid-day trading on Friday, reaching $80.31. 2,086,121 shares of the company’s stock traded hands, compared to its average volume of 283,668. The stock’s 50-day moving average is $96.79 and its two-hundred day moving average is $102.91. The stock has a market cap of $3.99 billion, a P/E ratio of 13.57 and a beta of 1.17. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.04 and a quick ratio of 1.04. TriNet Group has a 12 month low of $74.32 and a 12 month high of $134.67.

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

TriNet Group Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on TNET shares. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of TriNet Group in a report on Wednesday, September 11th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $103.00 price target on shares of TriNet Group in a research report on Tuesday. One equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.40.

Insider Activity

In related 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated 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 sale, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $482,161.68. Following the completion of the sale, the chief financial officer now owns 82,409 shares in the company, valued at $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.