TriNet Group (NYSE:TNET) Updates FY24 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $5.25-6.80 for the period, compared to the consensus earnings per share estimate of $6.03. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TNET shares. Needham & Company LLC lowered their price objective on TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research note on Friday, April 26th. StockNews.com downgraded TriNet Group from a buy rating to a hold rating in a research note on Monday, April 29th. Finally, TD Cowen lowered their target price on TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, TriNet Group currently has an average rating of Hold and an average price target of $119.20.

TriNet Group Stock Performance

Shares of NYSE TNET traded up $2.14 during trading on Friday, hitting $110.99. The company had a trading volume of 594,045 shares, compared to its average volume of 371,717. TriNet Group has a 12 month low of $96.76 and a 12 month high of $134.67. The company has a debt-to-equity ratio of 6.88, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $5.61 billion, a P/E ratio of 18.20 and a beta of 1.19. The stock has a 50 day simple moving average of $104.06 and a 200 day simple moving average of $114.53.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. The company had revenue of $310.00 million during the quarter, compared to analyst estimates of $301.76 million. As a group, analysts anticipate that TriNet Group will post 4.82 earnings per share for the current year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, July 1st. TriNet Group’s dividend payout ratio (DPR) is 16.39%.

Insider Buying and Selling

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the sale, the director now directly owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the sale, the director now directly owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $103.74, for a total transaction of $193,682.58. Following the completion of the transaction, the senior vice president now directly owns 32,661 shares in the company, valued at approximately $3,388,252.14. 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.