Equities analysts expect Trueblue Inc (NYSE:TBI) to post sales of $665.12 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Trueblue’s earnings, with estimates ranging from $664.36 million to $665.87 million. Trueblue reported sales of $734.95 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.5%. The company is scheduled to report its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Trueblue will report full year sales of $665.12 million for the current year, with estimates ranging from $2.50 billion to $2.51 billion. For the next year, analysts expect that the business will post sales of $2.57 billion per share, with estimates ranging from $2.53 billion to $2.61 billion. Zacks Investment Research’s 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 EPS for the quarter, topping the 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 firm had revenue of $660.78 million for the quarter, compared to analyst estimates of $651.91 million. During the same period in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.
Shares of Trueblue (NYSE TBI) traded down $0.65 during mid-day trading on Tuesday, hitting $27.40. 129,100 shares of the stock traded hands, compared to its average volume of 162,811. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77. Trueblue has a 52-week low of $19.30 and a 52-week high of $29.50. The firm has a market cap of $1,160.00, a price-to-earnings ratio of 20.00 and a beta of 2.39.
Trueblue announced that its Board of Directors has approved a share buyback plan on Monday, October 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other Trueblue news, CEO Steven C. Cooper sold 23,900 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $28.06, for a total value of $670,634.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP James E. Defebaugh sold 7,500 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were 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. Over the last three months, insiders sold 69,985 shares of company stock worth $1,939,509. Insiders own 2.00% of the company’s stock.
Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. increased its position in shares of 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 purchasing an additional 3,098 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Trueblue in the 3rd quarter valued at $117,000. Jane Street Group LLC purchased a new position in shares of Trueblue in the 3rd quarter valued at $203,000. Virginia Retirement Systems ET AL purchased a new position in shares of Trueblue in the 3rd quarter valued at $209,000. Finally, FNY Managed Accounts LLC purchased a new position in shares of Trueblue in the 3rd quarter valued at $215,000. 90.49% of the stock is currently owned by institutional investors.
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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