Wall Street brokerages expect TriNet Group Inc (NYSE:TNET) to post sales of $233.67 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TriNet Group’s earnings, with the lowest sales estimate coming in at $233.00 million and the highest estimate coming in at $234.13 million. TriNet Group reported sales of $220.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The company is scheduled to report its next quarterly earnings report on Monday, April 29th.
On average, analysts expect that TriNet Group will report full-year sales of $926.21 million for the current financial year, with estimates ranging from $924.02 million to $929.60 million. For the next fiscal year, analysts forecast that the company will post sales of $1.03 billion, with estimates ranging from $1.01 billion to $1.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover TriNet Group.
TriNet Group (NYSE:TNET) last issued its quarterly earnings results on Thursday, February 14th. The business services provider reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. TriNet Group had a return on equity of 56.98% and a net margin of 5.48%. The firm had revenue of $225.00 million during the quarter, compared to the consensus estimate of $211.58 million. During the same period last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis.
A number of equities research analysts have commented on TNET shares. William Blair raised TriNet Group from a “market perform” rating to an “outperform” rating and set a $46.80 target price for the company in a report on Tuesday, February 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised TriNet Group from an “underweight” rating to a “neutral” rating and raised their target price for the company from $53.00 to $60.00 in a report on Friday, February 15th. ValuEngine raised TriNet Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research downgraded TriNet Group from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Saturday, January 26th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $58.63.
In other TriNet Group news, VP Edward Griese sold 482 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $60.88, for a total value of $29,344.16. Following the completion of the sale, the vice president now owns 69,558 shares of the company’s stock, valued at $4,234,691.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director L.P. Agi-T bought 1,000 shares of TriNet Group stock in a transaction on Monday, February 25th. The stock was acquired at an average cost of $63.14 per share, with a total value of $63,140.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 178,632 shares of company stock valued at $10,001,568. 37.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TNET. Advisory Services Network LLC increased its position in shares of TriNet Group by 1,385.3% in the fourth quarter. Advisory Services Network LLC now owns 1,411 shares of the business services provider’s stock valued at $59,000 after buying an additional 1,316 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of TriNet Group in the third quarter valued at $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TriNet Group by 21.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,039 shares of the business services provider’s stock valued at $127,000 after buying an additional 546 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of TriNet Group by 33.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,706 shares of the business services provider’s stock valued at $231,000 after buying an additional 1,425 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of TriNet Group by 22.2% in the fourth quarter. Brown Advisory Inc. now owns 5,964 shares of the business services provider’s stock valued at $250,000 after buying an additional 1,085 shares in the last quarter. 86.55% of the stock is owned by institutional investors.
Shares of NYSE TNET traded up $0.38 during mid-day trading on Friday, hitting $62.25. 249,130 shares of the company were exchanged, compared to its average volume of 351,165. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.16 and a quick ratio of 1.16. TriNet Group has a 1-year low of $38.74 and a 1-year high of $63.65. The company has a market cap of $4.32 billion, a PE ratio of 24.22 and a beta of 2.15.
About TriNet Group
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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