TriNet Group (NYSE:TNET) Releases FY 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 5.250-6.800 for the period, compared to the consensus estimate of 6.650. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its FY24 guidance to $5.25-6.80 EPS.

TriNet Group Stock Performance

NYSE TNET opened at $105.72 on Friday. TriNet Group has a fifty-two week low of $79.00 and a fifty-two week high of $134.67. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $5.35 billion, a P/E ratio of 17.33 and a beta of 1.09. The stock has a 50-day simple moving average of $127.99 and a two-hundred day simple moving average of $119.38.

TriNet Group (NYSE:TNET) last posted its earnings results on Thursday, February 15th. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.46. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. The firm had revenue of $326.00 million for the quarter, compared to analysts’ expectations of $300.36 million. On average, equities analysts forecast that TriNet Group will post 5.79 earnings per share for the current year.

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is presently 16.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TNET shares. Stifel Nicolaus raised their target price on TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research report on Friday, February 16th. TD Cowen raised their target price on TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research report on Monday, March 4th. Needham & Company LLC dropped their target price on TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a research report on Friday. Finally, StockNews.com upgraded TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $117.50.

Insider Buying and Selling

In related news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the sale, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other TriNet Group news, SVP Alexander G. Warren sold 2,385 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total value of $293,521.95. Following the transaction, the senior vice president now directly owns 18,365 shares of the company’s stock, valued at approximately $2,260,180.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the transaction, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,052 shares of company stock worth $3,837,142. Insiders own 37.10% of the company’s stock.

TriNet Group Company Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.