TriNet Group (NYSE:TNET - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 4.950-5.450 for the period, compared to the consensus EPS estimate of 6.050. The company issued revenue guidance of $5.0 billion-$5.0 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its Q4 2024 guidance to 0.060-0.570 EPS.
TriNet Group Trading Down 12.4 %
TriNet Group stock traded down $11.34 during midday trading on Friday, reaching $80.29. The stock had a trading volume of 2,085,750 shares, compared to its average volume of 283,668. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 9.84. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 13.56 and a beta of 1.17. TriNet Group has a 52-week low of $74.32 and a 52-week high of $134.67. The company has a fifty day moving average of $96.79 and a 200 day moving average of $102.91.
TriNet Group (NYSE:TNET - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.29. The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. On average, analysts anticipate that TriNet Group will post 5.13 earnings per share for the current fiscal year.
TriNet Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. TriNet Group's dividend payout ratio (DPR) is 16.89%.
Analyst Ratings Changes
Several research firms recently commented on TNET. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $103.00 price target on shares of TriNet Group in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and set a $140.00 price target on shares of TriNet Group in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, TriNet Group presently has a consensus rating of "Hold" and an average price target of $118.40.
View Our Latest Stock Analysis on TNET
Insider Buying and Selling
In other news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the transaction, the director now owns 37,966 shares of the company's stock, valued at $4,043,379. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Paul Edward Chamberlain sold 375 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total transaction of $39,937.50. Following the transaction, the director now directly owns 37,966 shares of the company's stock, valued at $4,043,379. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kelly L. Tuminelli sold 4,683 shares of TriNet Group stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now owns 82,409 shares of the company's stock, valued at $8,484,830.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.10% of the stock is currently owned by company insiders.
About TriNet Group
(
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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.
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