TriNet Group (NYSE:TNET) Releases Q2 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.000-1.500 for the period, compared to the consensus estimate of 1.570. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. Stifel Nicolaus lifted their target price on shares of TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research note on Friday, February 16th. TD Cowen lifted their target price on shares of TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research note on Monday, March 4th. Finally, Needham & Company LLC reduced their target price on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $117.50.

TriNet Group Stock Performance

Shares of TriNet Group stock traded down $21.30 on Friday, reaching $105.48. The stock had a trading volume of 774,169 shares, compared to its average volume of 229,489. The business’s 50-day moving average price is $128.43 and its two-hundred day moving average price is $119.48. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. TriNet Group has a fifty-two week low of $79.00 and a fifty-two week high of $134.67. The stock has a market cap of $5.33 billion, a P/E ratio of 16.46 and a beta of 1.09.

TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. The business had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. On average, sell-side analysts forecast that TriNet Group will post 5.79 EPS for the current year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is currently 15.41%.

Insider Buying and Selling

In related news, Director Wayne B. Lowell sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the transaction, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the sale, the executive vice president now owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne B. Lowell sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the completion of the sale, the director now directly owns 84,766 shares in the company, valued at approximately $10,360,100.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,052 shares of company stock valued at $3,837,142. 37.10% of the stock is owned by company 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.