TrueBlue (NYSE:TBI) Announces Quarterly Earnings Results

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

TrueBlue Stock Performance

Shares of NYSE:TBI traded down $0.18 during midday trading on Wednesday, hitting $7.92. 172,325 shares of the stock were exchanged, compared to its average volume of 362,143. The business’s fifty day simple moving average is $10.64 and its two-hundred day simple moving average is $11.43. TrueBlue has a 52-week low of $7.67 and a 52-week high of $16.14. The company has a market capitalization of $242.11 million, a PE ratio of -21.30, a P/E/G ratio of 13.71 and a beta of 1.51.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TBI. BMO Capital Markets dropped their price target on TrueBlue from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday. Robert W. Baird lowered their target price on TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Finally, StockNews.com lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday.

About TrueBlue

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.