TriNet Group (TNET) Set to Announce Earnings on Friday

TriNet Group (NYSE:TNET) is scheduled to release its earnings data before the market opens on Friday, April 26th. Analysts expect TriNet Group to post earnings of $2.22 per share for the quarter. TriNet Group has set its Q1 guidance at $2.10 to $2.85 EPS and its FY24 guidance at $5.80 to $7.35 EPS.Investors interested in listening to the company’s earnings conference call can do so using this link.

TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, beating 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 business had revenue of $326.00 million for the quarter, compared to the consensus estimate of $300.36 million. On average, analysts expect TriNet Group to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

TriNet Group Stock Performance

TNET stock opened at $129.47 on Friday. The business’s fifty day simple moving average is $126.96 and its two-hundred day simple moving average is $119.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 12.62. TriNet Group has a twelve month low of $79.00 and a twelve month high of $134.67. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 19.95 and a beta of 1.09.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.77%. TriNet Group’s dividend payout ratio is currently 15.41%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TNET. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of TriNet Group in a research note on Friday, March 1st. TD Cowen lifted their target price on TriNet Group from $129.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Stifel Nicolaus upped their price objective on shares of TriNet Group from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, StockNews.com upgraded TriNet Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TriNet Group currently has an average rating of “Moderate Buy” and an average target price of $119.17.

Insider Buying and Selling

In other TriNet Group news, CEO Burton M. Goldfield sold 2,783 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $116.67, for a total value of $324,692.61. Following the completion of the transaction, the chief executive officer now directly owns 125,046 shares of the company’s stock, valued at $14,589,116.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Burton M. Goldfield sold 2,783 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $116.67, for a total transaction of $324,692.61. Following the completion of the sale, the chief executive officer now owns 125,046 shares of the company’s stock, valued at $14,589,116.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne B. Lowell sold 10,000 shares of TriNet Group stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the completion of the sale, the director now owns 84,766 shares in the company, valued at $10,360,100.52. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock valued at $4,161,834 over the last ninety days. 37.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriNet Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of TriNet Group by 11.4% during the first quarter. Wellington Management Group LLP now owns 4,190,526 shares of the business services provider’s stock valued at $412,181,000 after purchasing an additional 430,430 shares during the period. BlackRock Inc. grew its stake in shares of TriNet Group by 2.4% during the 2nd quarter. BlackRock Inc. now owns 2,607,681 shares of the business services provider’s stock valued at $247,651,000 after purchasing an additional 61,569 shares during the period. State Street Corp increased its stake in shares of TriNet Group by 1.5% in the 1st quarter. State Street Corp now owns 819,550 shares of the business services provider’s stock worth $80,611,000 after purchasing an additional 12,253 shares in the last quarter. Geode Capital Management LLC lifted its holdings in TriNet Group by 1.3% during the first quarter. Geode Capital Management LLC now owns 743,104 shares of the business services provider’s stock valued at $59,902,000 after purchasing an additional 9,775 shares in the last quarter. Finally, Norges Bank bought a new position in shares of TriNet Group in the fourth quarter worth about $34,685,000. Hedge funds and other institutional investors own 96.81% of the company’s stock.

TriNet Group Company Profile

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.