TriNet Group (NYSE:TNET) Releases FY 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 5.250-6.800 for the period, compared to the consensus estimate of 6.650. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its FY24 guidance to $5.25-6.80 EPS.

TriNet Group Stock Down 16.8 %

Shares of TriNet Group stock opened at $105.48 on Friday. TriNet Group has a one year low of $79.00 and a one year high of $134.67. The company has a market cap of $5.33 billion, a P/E ratio of 16.25 and a beta of 1.09. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day moving average of $127.99 and a two-hundred day moving average of $119.38.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.46. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. The firm had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. On average, analysts forecast that TriNet Group will post 5.79 earnings per share for the current year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. TriNet Group’s dividend payout ratio (DPR) is presently 15.41%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TNET shares. TD Cowen boosted their target price on shares of TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, March 4th. StockNews.com raised shares of TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. Needham & Company LLC dropped their target price on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a report on Friday. Finally, Stifel Nicolaus boosted their price target on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $117.50.

Insider Transactions at TriNet Group

In other news, CFO Kelly L. Tuminelli sold 4,396 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $122.67, for a total value of $539,257.32. Following the completion of the transaction, the chief financial officer now directly owns 65,999 shares of the company’s stock, valued at $8,096,097.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Samantha Wellington sold 14,271 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly L. Tuminelli sold 4,396 shares of TriNet Group stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.67, for a total transaction of $539,257.32. Following the completion of the sale, the chief financial officer now directly owns 65,999 shares of the company’s stock, valued at $8,096,097.33. The disclosure for this sale can be found here. Insiders sold a total of 31,052 shares of company stock valued at $3,837,142 in the last ninety days. Corporate insiders own 37.10% of the company’s stock.

About TriNet Group

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.