TriNet Group, Inc. (TNET) Posts Quarterly Earnings Results, Beats Expectations By $0.30 EPS
TriNet Group, Inc. (NYSE:TNET) issued its quarterly earnings data on Thursday. The business services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.26 by $0.30, Bloomberg Earnings reports. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The firm had revenue of $205.90 million during the quarter, compared to analyst estimates of $174.89 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year.
Shares of TriNet Group (NYSE TNET) traded up $6.97 during mid-day trading on Friday, reaching $41.00. The company had a trading volume of 2,020,656 shares, compared to its average volume of 288,616. TriNet Group has a one year low of $19.66 and a one year high of $43.38. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 25.66 and a beta of 2.88.
Several brokerages have recently commented on TNET. Morgan Stanley increased their price objective on TriNet Group from $31.00 to $32.00 and gave the company an “underweight” rating in a report on Friday. J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. BidaskClub lowered TriNet Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered TriNet Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. TriNet Group has a consensus rating of “Hold” and an average target price of $37.60.
In other news, CEO Burton M. Goldfield sold 24,676 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $35.29, for a total transaction of $870,816.04. Following the sale, the chief executive officer now owns 30,707 shares of the company’s stock, valued at $1,083,650.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Babinec sold 111,855 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $37.75, for a total transaction of $4,222,526.25. The disclosure for this sale can be found here. Insiders have sold 332,983 shares of company stock worth $12,205,957 in the last ninety days. Corporate insiders own 42.40% of the company’s stock.
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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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