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 Stock Down 4.3 %

Shares of TriNet Group stock opened at $87.65 on Friday. TriNet Group has a twelve month low of $87.65 and a twelve month high of $134.67. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 14.81 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. The company has a fifty day moving average price of $97.10 and a 200 day moving average price of $103.26.

TriNet Group (NYSE:TNET) last posted its earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.29. The business had revenue of $310.00 million during the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. Equities research analysts forecast that TriNet Group will post 5.13 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s dividend payout ratio (DPR) is 16.89%.

Analyst Ratings Changes

A number of research analysts have recently commented on TNET shares. JPMorgan Chase & Co. reissued an “underweight” rating and set a $103.00 target price on shares of TriNet Group in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of TriNet Group in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, TriNet Group has a consensus rating of “Hold” and a consensus target price of $118.40.

Insider Buying and Selling at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the sale, the chief financial officer now owns 82,409 shares in the company, valued at approximately $8,484,830.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the transaction, the director now owns 37,966 shares in the company, valued at approximately $4,043,379. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total value of $482,161.68. Following the sale, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $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. 37.10% of the stock is currently owned by corporate insiders.

TriNet Group Company Profile

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.