TriNet Group (NYSE:TNET) Releases FY24 Earnings Guidance

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

TriNet Group Stock Performance

Shares of NYSE:TNET traded up $2.14 during trading on Friday, reaching $110.99. The company had a trading volume of 594,045 shares, compared to its average volume of 371,717. TriNet Group has a fifty-two week low of $96.76 and a fifty-two week high of $134.67. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 18.20 and a beta of 1.19. The company has a debt-to-equity ratio of 6.88, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s fifty day moving average price is $104.06 and its 200 day moving average price is $114.53.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. TriNet Group had a return on equity of 124.38% and a net margin of 6.78%. The business had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. As a group, equities research analysts predict that TriNet Group will post 4.82 EPS for the current year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. TriNet Group’s payout ratio is 16.39%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. 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 research report on Monday, June 24th. Needham & Company LLC lowered their target price on TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a research note on Friday, April 26th. Finally, StockNews.com lowered TriNet Group from a buy rating to a hold rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $119.20.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now directly owns 36,341 shares in the company, valued at approximately $3,671,167.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Alexander G. Warren sold 1,867 shares of TriNet Group stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $103.74, for a total transaction of $193,682.58. Following the sale, the senior vice president now directly owns 32,661 shares of the company’s stock, valued at $3,388,252.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total value of $37,882.50. Following the transaction, the director now directly owns 36,341 shares in the company, valued at $3,671,167.82. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by corporate 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.