TriNet Group, Inc. (TNET) to Release Quarterly Earnings on Monday
TriNet Group, Inc. (NYSE:TNET) is scheduled to be announcing its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.26 per share for the quarter.
TriNet Group (NYSE:TNET) last released its quarterly earnings data on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. The firm had revenue of $201.01 million during the quarter, compared to the consensus estimate of $168.27 million. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts expect TriNet Group to post $1.27 EPS for the current fiscal year and $1.35 EPS for the next fiscal year.
TriNet Group, Inc. (TNET) opened at 34.88 on Monday. The firm has a market cap of $2.42 billion, a P/E ratio of 23.44 and a beta of 2.89. TriNet Group, Inc. has a 12-month low of $17.78 and a 12-month high of $41.58. The firm has a 50-day moving average of $34.47 and a 200-day moving average of $33.00.
In other TriNet Group news, SVP Brady Mickelsen sold 4,744 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $35.73, for a total value of $169,503.12. Following the sale, the senior vice president now directly owns 38,842 shares in the company, valued at $1,387,824.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edward Griese sold 3,494 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $35.45, for a total value of $123,862.30. Following the completion of the sale, the vice president now owns 8,504 shares in the company, valued at $301,466.80. The disclosure for this sale can be found here. Insiders sold 357,983 shares of company stock worth $13,186,607 over the last quarter. Company insiders own 42.40% of the company’s stock.
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A number of analysts have recently issued reports on TNET shares. Zacks Investment Research upgraded TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective on the stock in a research report on Saturday, August 5th. Stifel Nicolaus restated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of TriNet Group in a research report on Tuesday, August 1st. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $27.00 to $31.00 in a research report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $33.00 to $36.00 in a research report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.40.
TriNet Group Company Profile
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.
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