Sidoti Csr Has Positive Outlook of TrueBlue FY2024 Earnings

TrueBlue, Inc. (NYSE:TBI - Free Report) - Investment analysts at Sidoti Csr upped their FY2024 earnings estimates for TrueBlue in a report released on Tuesday, November 5th. Sidoti Csr analyst M. Riddick now forecasts that the business services provider will post earnings of ($0.56) per share for the year, up from their prior forecast of ($0.65). The consensus estimate for TrueBlue's current full-year earnings is ($0.65) per share. Sidoti Csr also issued estimates for TrueBlue's Q4 2024 earnings at ($0.13) EPS.

TrueBlue (NYSE:TBI - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. TrueBlue had a negative return on equity of 2.55% and a negative net margin of 6.97%. The firm had revenue of $382.36 million for the quarter, compared to analyst estimates of $386.07 million. During the same period last year, the company earned $0.16 EPS. The firm's quarterly revenue was down 19.2% on a year-over-year basis.

A number of other brokerages have also weighed in on TBI. StockNews.com lowered shares of TrueBlue from a "hold" rating to a "sell" rating in a report on Tuesday, August 6th. BMO Capital Markets reduced their target price on TrueBlue from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday.

TrueBlue Stock Down 1.0 %

Shares of TBI traded down $0.08 during mid-day trading on Thursday, hitting $8.08. The company had a trading volume of 239,848 shares, compared to its average volume of 319,080. TrueBlue has a 1-year low of $6.97 and a 1-year high of $16.14. The business's 50-day simple moving average is $7.63 and its 200-day simple moving average is $9.30. The stock has a market cap of $247.01 million, a PE ratio of -2.10 and a beta of 1.49.

Institutional Investors Weigh In On TrueBlue

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in TrueBlue by 23.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,146 shares of the business services provider's stock worth $478,000 after purchasing an additional 7,327 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in TrueBlue by 41.8% in the first quarter. BNP Paribas Financial Markets now owns 82,337 shares of the business services provider's stock valued at $1,031,000 after acquiring an additional 24,286 shares in the last quarter. Quantbot Technologies LP raised its holdings in TrueBlue by 181.3% in the first quarter. Quantbot Technologies LP now owns 41,987 shares of the business services provider's stock valued at $526,000 after acquiring an additional 27,060 shares in the last quarter. Empowered Funds LLC boosted its stake in TrueBlue by 8.2% during the 1st quarter. Empowered Funds LLC now owns 113,348 shares of the business services provider's stock valued at $1,419,000 after acquiring an additional 8,565 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in TrueBlue during the 1st quarter worth $192,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.