Equities analysts forecast that TrueBlue, Inc. (NYSE:TBI) will post $665.12 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for TrueBlue’s earnings, with the highest sales estimate coming in at $665.87 million and the lowest estimate coming in at $664.36 million. TrueBlue reported sales of $734.95 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.5%. The business is expected to issue its next quarterly earnings results on Wednesday, February 14th.

On average, analysts expect that TrueBlue will report full year sales of $665.12 million for the current fiscal year, with estimates ranging from $2.50 billion to $2.51 billion. For the next year, analysts anticipate that the business will report sales of $2.57 billion per share, with estimates ranging from $2.53 billion to $2.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover TrueBlue.

TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The business had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. During the same quarter last year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Several research analysts have recently commented on TBI shares. TheStreet lowered shares of TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and issued a $25.00 price target on shares of TrueBlue in a research note on Friday, October 6th. ValuEngine upgraded shares of TrueBlue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $23.00 price target on shares of TrueBlue in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.00.

TrueBlue (NYSE TBI) opened at $28.65 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. TrueBlue has a 12 month low of $19.30 and a 12 month high of $29.45. The company has a market cap of $1,176.73, a P/E ratio of 15.89 and a beta of 2.37.

TrueBlue declared that its Board of Directors has initiated a share repurchase program on Monday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, EVP Wayne W. Larkin sold 10,000 shares of TrueBlue stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $20.38, for a total value of $203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James E. Defebaugh sold 7,500 shares of TrueBlue stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $28.16, for a total transaction of $211,200.00. The disclosure for this sale can be found here. Insiders sold 53,485 shares of company stock valued at $1,343,071 in the last quarter. 2.00% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of TrueBlue by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,092,140 shares of the business services provider’s stock worth $55,441,000 after buying an additional 24,233 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of TrueBlue during the 2nd quarter worth approximately $949,000. Numeric Investors LLC lifted its position in shares of TrueBlue by 0.8% during the 2nd quarter. Numeric Investors LLC now owns 1,116,864 shares of the business services provider’s stock worth $29,597,000 after buying an additional 8,707 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of TrueBlue by 26,192.3% during the 2nd quarter. Federated Investors Inc. PA now owns 37,598 shares of the business services provider’s stock worth $996,000 after buying an additional 37,455 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of TrueBlue by 4.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 61,360 shares of the business services provider’s stock worth $1,623,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 91.49% of the company’s stock.

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About TrueBlue

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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