TrueBlue, Inc. (TBI) Issues Earnings Results
TrueBlue, Inc. (NYSE:TBI) released its quarterly earnings results on Monday. The business services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02, Bloomberg Earnings reports. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The business had revenue of $660.78 million for the quarter, compared to the consensus estimate of $651.91 million. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. TrueBlue updated its Q4 guidance to $0.45-0.50 EPS.
TrueBlue (TBI) traded down 2.86% on Monday, hitting $23.75. The stock had a trading volume of 228,910 shares. TrueBlue has a 52-week low of $16.55 and a 52-week high of $28.70. The firm has a market cap of $987.48 million, a price-to-earnings ratio of 16.77 and a beta of 2.40. The company’s 50 day moving average price is $22.74 and its 200 day moving average price is $24.40.
In other news, EVP Wayne W. Larkin sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $20.38, for a total transaction of $203,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on TBI shares. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. ValuEngine upgraded TrueBlue from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. BMO Capital Markets restated a “hold” rating and set a $23.00 price target on shares of TrueBlue in a research report on Friday, October 13th. BidaskClub downgraded TrueBlue from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded TrueBlue from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. TrueBlue currently has a consensus rating of “Hold” and an average price target of $22.00.
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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