Trueblue (TBI) Releases Q1 Earnings Guidance

Trueblue (NYSE:TBI) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.18-0.24 for the period, compared to the Thomson Reuters consensus estimate of $0.25. The company issued revenue guidance of $557-572 million, compared to the consensus revenue estimate of $576.56 million.

Shares of Trueblue (TBI) traded up $0.20 on Wednesday, reaching $25.90. 497,638 shares of the company’s stock traded hands, compared to its average volume of 182,266. Trueblue has a 52 week low of $19.30 and a 52 week high of $29.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $1,070.00, a PE ratio of 18.91 and a beta of 2.27.

Trueblue announced that its Board of Directors has initiated a stock repurchase program on Monday, October 30th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several equities research analysts have issued reports on TBI shares. Robert W. Baird lifted their target price on shares of Trueblue from $25.00 to $26.00 and gave the stock a neutral rating in a research note on Tuesday, October 31st. Zacks Investment Research cut shares of Trueblue from a hold rating to a sell rating in a research note on Thursday, November 2nd. BMO Capital Markets reaffirmed a hold rating and set a $23.00 target price on shares of Trueblue in a research note on Friday, October 13th. Finally, TheStreet raised shares of Trueblue from a c+ rating to a b rating in a research note on Friday, November 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $28.00.

In other news, EVP James E. Defebaugh sold 7,500 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.16, for a total transaction of $211,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wayne W. Larkin sold 12,600 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $28.54, for a total transaction of $359,604.00. Following the transaction, the executive vice president now directly owns 39,461 shares in the company, valued at approximately $1,126,216.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,000 shares of company stock worth $1,241,438. 2.00% of the stock is currently owned by corporate insiders.

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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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