$665.12 Million in Sales Expected for TrueBlue, Inc. (TBI) This Quarter

Brokerages expect TrueBlue, Inc. (NYSE:TBI) to post sales of $665.12 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for TrueBlue’s earnings. The lowest sales estimate is $664.36 million and the highest is $665.87 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 firm is expected to report its next quarterly earnings results on Wednesday, February 14th.

According to Zacks, 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 forecast that the business will report sales of $2.57 billion per share, with estimates ranging from $2.53 billion to $2.61 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TrueBlue.

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

Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of TrueBlue from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird restated a “hold” rating and set a $25.00 price objective on shares of TrueBlue in a research report on Friday, October 6th. TheStreet downgraded shares of TrueBlue from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. BMO Capital Markets restated a “hold” rating and set a $23.00 price objective on shares of TrueBlue in a research report on Friday, October 13th. Finally, Zacks Investment Research cut shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. TrueBlue currently has an average rating of “Hold” and an average target price of $26.00.

Shares of TrueBlue (TBI) traded down $0.25 during trading hours on Wednesday, hitting $27.65. 312,500 shares of the stock traded hands, compared to its average volume of 290,771. The stock has a market cap of $1,153.99, a P/E ratio of 15.59 and a beta of 2.38. 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 twelve month low of $19.30 and a twelve month high of $29.50.

TrueBlue declared that its Board of Directors has approved a share repurchase plan on Monday, October 30th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, EVP Wayne W. Larkin sold 10,000 shares of TrueBlue stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $23.00, for a total value of $230,000.00. Following the transaction, the executive vice president now directly owns 52,061 shares of the company’s stock, valued at approximately $1,197,403. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven C. Cooper sold 23,900 shares of TrueBlue stock in a transaction on Monday, December 4th. The shares were sold at an average price of $28.06, for a total transaction of $670,634.00. The disclosure for this sale can be found here. Insiders sold a total of 79,985 shares of company stock worth $2,169,509 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. increased its stake in TrueBlue by 192.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,706 shares of the business services provider’s stock valued at $106,000 after buying an additional 3,098 shares during the period. Macquarie Group Ltd. acquired a new position in TrueBlue in the 3rd quarter valued at $117,000. Jane Street Group LLC acquired a new position in TrueBlue in the 3rd quarter valued at $203,000. Virginia Retirement Systems ET AL acquired a new position in TrueBlue in the 3rd quarter valued at $209,000. Finally, FNY Managed Accounts LLC acquired a new position in TrueBlue in the 3rd quarter valued at $215,000. 90.55% of the stock is currently owned by institutional investors.

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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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