Zacks: Brokerages Expect TriNet (TNET) to Post $0.64 EPS

Brokerages expect TriNet (NYSE:TNET) to report earnings of $0.64 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for TriNet’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.56. TriNet posted earnings of $0.45 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.2%. The firm is scheduled to report its next earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that TriNet will report full-year earnings of $2.59 per share for the current year, with EPS estimates ranging from $2.56 to $2.62. For the next fiscal year, analysts forecast that the company will post earnings of $2.87 per share, with EPS estimates ranging from $2.73 to $3.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover TriNet.

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TriNet (NYSE:TNET) last issued its earnings results on Tuesday, February 27th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.05). The firm had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $198.33 million. TriNet had a return on equity of 102.76% and a net margin of 5.42%.

Several brokerages have issued reports on TNET. ValuEngine raised shares of TriNet from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of TriNet from a “sell” rating to a “strong-buy” rating and set a $54.00 price objective for the company in a report on Wednesday, March 7th. Stifel Nicolaus boosted their price objective on shares of TriNet to $54.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley raised shares of TriNet from an “underweight” rating to an “equal weight” rating and set a $46.00 price objective for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.20.

TriNet stock traded down $2.01 during trading hours on Friday, hitting $46.67. The stock had a trading volume of 682,557 shares, compared to its average volume of 377,523. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $3,410.29, a PE ratio of 27.13 and a beta of 2.50. TriNet has a 12-month low of $27.27 and a 12-month high of $49.00.

TriNet declared that its board has authorized a stock repurchase plan on Tuesday, February 27th that authorizes the company to buyback $120.00 million in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Michael P. Murphy sold 837 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $40.86, for a total transaction of $34,199.82. Following the completion of the transaction, the insider now directly owns 19,444 shares of the company’s stock, valued at $794,481.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edward Griese sold 4,471 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $40.86, for a total transaction of $182,685.06. Following the transaction, the vice president now directly owns 9,532 shares of the company’s stock, valued at $389,477.52. The disclosure for this sale can be found here. Insiders have sold 220,109 shares of company stock valued at $9,721,254 over the last three months. 42.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in TriNet during the fourth quarter valued at approximately $590,000. MetLife Investment Advisors LLC bought a new stake in TriNet during the fourth quarter valued at approximately $857,000. Gotham Asset Management LLC grew its position in TriNet by 35.4% during the fourth quarter. Gotham Asset Management LLC now owns 147,590 shares of the business services provider’s stock valued at $6,544,000 after buying an additional 38,580 shares during the period. PEAK6 Investments L.P. grew its position in TriNet by 35.4% during the fourth quarter. PEAK6 Investments L.P. now owns 31,176 shares of the business services provider’s stock valued at $1,382,000 after buying an additional 8,149 shares during the period. Finally, Millennium Management LLC grew its position in TriNet by 33.3% during the fourth quarter. Millennium Management LLC now owns 747,231 shares of the business services provider’s stock valued at $33,132,000 after buying an additional 186,875 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.

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TriNet Company Profile

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. 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 benefit law compliance; and other services.

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