Wall Street brokerages expect that TriNet Group Inc (NYSE:TNET) will report earnings per share of $0.47 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for TriNet Group’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.36. TriNet Group reported earnings of $0.38 per share in the same quarter last year, which would indicate a positive year over year growth rate of 23.7%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that TriNet Group will report full-year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.89 to $2.09. For the next year, analysts anticipate that the firm will post earnings of $1.98 per share, with EPS estimates ranging from $1.79 to $2.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover TriNet Group.
A number of brokerages have issued reports on TNET. Stifel Nicolaus reissued a “buy” rating on shares of TriNet Group in a report on Wednesday. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. BidaskClub raised shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley raised their price target on shares of TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.00.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. purchased a new position in TriNet Group during the 4th quarter valued at about $218,000. Intrust Bank NA purchased a new position in TriNet Group during the 4th quarter valued at about $231,000. Pitcairn Co. purchased a new position in TriNet Group during the 4th quarter valued at about $230,000. Amalgamated Bank purchased a new position in TriNet Group during the 4th quarter valued at about $250,000. Finally, Invictus RG lifted its position in TriNet Group by 885.6% during the 4th quarter. Invictus RG now owns 6,071 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 5,455 shares during the period. 56.54% of the stock is owned by institutional investors.
Shares of TriNet Group (NYSE:TNET) traded up $5.32 during trading on Friday, reaching $46.90. 1,123,541 shares of the company’s stock were exchanged, compared to its average volume of 347,232. The company has a market cap of $2,912.82, a price-to-earnings ratio of 25.10 and a beta of 2.78. TriNet Group has a 1-year low of $25.55 and a 1-year high of $48.29. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18.
TriNet Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 27th that authorizes the company to buyback $120.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
About TriNet Group
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.
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