Sidoti Csr Issues Optimistic Forecast for TrueBlue Earnings

TrueBlue, Inc. (NYSE:TBI - Free Report) - Equities researchers at Sidoti Csr boosted their FY2024 earnings per share (EPS) estimates for shares of TrueBlue in a note issued to investors on Tuesday, November 5th. Sidoti Csr analyst M. Riddick now expects that the business services provider will earn ($0.56) per share for the year, up from their prior estimate 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.

Several other research firms have also recently commented on TBI. BMO Capital Markets lowered their target price on TrueBlue from $11.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday. StockNews.com lowered TrueBlue from a "hold" rating to a "sell" rating in a research note on Tuesday, August 6th.

TrueBlue Price Performance

TBI remained flat at $8.16 during trading hours on Thursday. The company had a trading volume of 15,329 shares, compared to its average volume of 318,040. TrueBlue has a 12-month low of $6.97 and a 12-month high of $16.14. The stock has a market capitalization of $249.45 million, a price-to-earnings ratio of -2.13 and a beta of 1.49. The business's fifty day moving average is $7.63 and its 200-day moving average is $9.31.

TrueBlue (NYSE:TBI - Get Free Report) last posted its earnings results on Monday, November 4th. The business services provider reported ($0.11) EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $386.07 million. During the same period last year, the firm earned $0.16 EPS. The firm's revenue was down 19.2% compared to the same quarter last year.

Institutional Investors Weigh In On TrueBlue

Several large investors have recently modified their holdings of TBI. nVerses Capital LLC purchased a new stake in shares of TrueBlue in the second quarter valued at $35,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of TrueBlue in the first quarter valued at $192,000. Algert Global LLC purchased a new stake in shares of TrueBlue in the second quarter valued at $208,000. XTX Topco Ltd lifted its holdings in shares of TrueBlue by 19.4% in the second quarter. XTX Topco Ltd now owns 22,725 shares of the business services provider's stock valued at $234,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of TrueBlue in the first quarter valued at $376,000. 97.15% of the stock is owned by 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.