Equities analysts expect Trueblue Inc (NYSE:TBI) to report earnings of $0.47 per share for the current 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 reported earnings per share of $0.56 during the same quarter last year, which indicates a negative year-over-year growth rate of 16.1%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 7th.
According to Zacks, analysts expect that Trueblue will report full year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.71. For the next fiscal year, analysts anticipate that the company will report earnings of $1.86 per share, with EPS estimates ranging from $1.85 to $1.87. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Trueblue.
Trueblue (NYSE:TBI) last posted its earnings results 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. The business had revenue of $660.78 million for the quarter, compared to the consensus estimate of $651.91 million. Trueblue had a net margin of 2.22% and a return on equity of 14.05%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS.
TBI has been the topic of a number of research reports. Zacks Investment Research raised shares of Trueblue from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine raised shares of Trueblue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. BMO Capital Markets raised their target price on shares of Trueblue from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, November 1st. TheStreet raised shares of Trueblue from a “c+” rating to a “b” rating in a research report on Friday, November 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Trueblue in a research report on Friday, October 6th. Two 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 an average rating of “Hold” and an average target price of $28.00.
Trueblue (TBI) opened at $27.00 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. The company has a market cap of $1,120.90, a PE ratio of 19.85 and a beta of 2.39. Trueblue has a 12-month low of $19.30 and a 12-month high of $29.50.
Trueblue declared that its Board of Directors has initiated a share repurchase program on Monday, October 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Wayne W. Larkin sold 12,600 shares of Trueblue stock in a transaction that occurred on Thursday, November 30th. The shares were 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 of the company’s stock, valued at approximately $1,126,216.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steven C. Cooper sold 23,900 shares of Trueblue stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $28.06, for a total transaction of $670,634.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,985 shares of company stock worth $1,939,509. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in shares of Trueblue by 5.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,447 shares of the business services provider’s stock worth $939,000 after buying an additional 1,788 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Trueblue by 8.2% in the 3rd quarter. SG Americas Securities LLC now owns 38,164 shares of the business services provider’s stock worth $857,000 after buying an additional 2,885 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Trueblue by 8.3% in the 2nd quarter. Sterling Capital Management LLC now owns 39,795 shares of the business services provider’s stock worth $1,055,000 after purchasing an additional 3,051 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Trueblue by 192.7% in the 3rd 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. Finally, New York State Common Retirement Fund boosted its stake in Trueblue by 5.0% in the 2nd quarter. New York State Common Retirement Fund now owns 78,099 shares of the business services provider’s stock worth $2,070,000 after purchasing an additional 3,736 shares in the last quarter. 90.55% of the stock is currently owned by hedge funds and other institutional investors.
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Trueblue Company Profile
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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