Trueblue (TBI) Releases Q4 Earnings Guidance

Trueblue (NYSE:TBI) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.55-0.62 for the period, compared to the Thomson Reuters consensus estimate of $0.58. The company issued revenue guidance of $642-659 million, compared to the consensus revenue estimate of $657.81 million.Trueblue also updated its Q4 2018 guidance to $0.55-0.62 EPS.

Shares of NYSE TBI traded down $0.66 during mid-day trading on Tuesday, reaching $23.71. 7,083 shares of the company were exchanged, compared to its average volume of 180,902. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market cap of $985.21 million, a PE ratio of 13.84 and a beta of 1.88. Trueblue has a twelve month low of $22.71 and a twelve month high of $29.85.

Trueblue (NYSE:TBI) last posted its earnings results on Monday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $680.40 million during the quarter, compared to analysts’ expectations of $672.74 million. Trueblue had a net margin of 2.57% and a return on equity of 14.66%. Trueblue’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. As a group, analysts predict that Trueblue will post 2.23 EPS for the current fiscal year.

TBI has been the subject of a number of research reports. Credit Suisse Group initiated coverage on shares of Trueblue in a research note on Friday, August 10th. They set a neutral rating and a $31.00 target price for the company. Zacks Investment Research lowered shares of Trueblue from a buy rating to a hold rating in a research report on Saturday, August 4th. ValuEngine raised shares of Trueblue from a hold rating to a buy rating in a research report on Tuesday, August 7th. TheStreet raised shares of Trueblue from a c rating to a b- rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird reaffirmed a hold rating and set a $28.00 price target on shares of Trueblue in a research report on Tuesday, July 31st. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and a consensus target price of $28.25.

In related news, EVP Sean A. Ebner sold 1,211 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $28.50, for a total transaction of $34,513.50. Following the transaction, the executive vice president now directly owns 13,989 shares of the company’s stock, valued at $398,686.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven C. Cooper sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.35, for a total transaction of $1,559,250.00. Following the transaction, the chief executive officer now directly owns 196,983 shares in the company, valued at $5,584,468.05. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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Trueblue Company Profile

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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