Analysts expect that Trueblue Inc (NYSE:TBI) will report earnings of $0.47 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Trueblue’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.47. Trueblue posted earnings of $0.56 per share in the same quarter last year, which indicates a negative year over year growth rate of 16.1%. The firm is expected to announce its next earnings report on Wednesday, February 14th.
On average, analysts expect that Trueblue will report full year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.71. For the next year, analysts expect that the company will post earnings of $1.86 per share, with EPS estimates ranging from $1.85 to $1.87. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Trueblue.
Trueblue (NYSE:TBI) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Trueblue had a return on equity of 14.05% and a net margin of 2.22%. The firm had revenue of $660.78 million for the quarter, compared to analysts’ expectations of $651.91 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis.
A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Trueblue from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price objective on shares of Trueblue in a report on Friday, October 13th. TheStreet upgraded Trueblue from a “c+” rating to a “b” rating in a report on Friday, November 17th. Zacks Investment Research cut Trueblue from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, ValuEngine upgraded Trueblue from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Trueblue currently has a consensus rating of “Hold” and a consensus price target of $26.00.
In other Trueblue news, CEO Steven C. Cooper sold 23,900 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $28.06, for a total transaction of $670,634.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wayne W. Larkin sold 12,600 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $28.54, for a total value of $359,604.00. Following the transaction, the executive vice president now owns 39,461 shares in the company, valued at $1,126,216.94. The disclosure for this sale can be found here. Insiders have sold 69,985 shares of company stock worth $1,939,509 over the last 90 days. 2.00% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its stake in Trueblue by 192.7% during the third quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock worth $106,000 after purchasing an additional 3,098 shares in the last quarter. Macquarie Group Ltd. acquired a new position in Trueblue during the third quarter worth $117,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Trueblue during the second quarter worth $236,000. Jane Street Group LLC acquired a new position in Trueblue during the third quarter worth $203,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Trueblue during the second quarter worth $244,000. Institutional investors own 90.49% of the company’s stock.
Trueblue (NYSE TBI) opened at $27.40 on Friday. Trueblue has a twelve month low of $19.30 and a twelve month high of $29.50. The company has a market capitalization of $1,133.32, a P/E ratio of 20.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.77.
Trueblue declared that its board has approved a share repurchase program on Monday, October 30th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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