TriNet Group, Inc. (NYSE:TNET) Announces Earnings Results, Beats Estimates By $0.30 EPS

TriNet Group, Inc. (NYSE:TNET) announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.30, Bloomberg Earnings reports. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The business had revenue of $205.90 million for the quarter, compared to the consensus estimate of $174.89 million. During the same period last year, the business posted $0.29 EPS. The business’s revenue was up 27.9% compared to the same quarter last year.

TriNet Group (NYSE:TNET) traded up $0.97 during trading on Monday, reaching $42.69. The company’s stock had a trading volume of 799,900 shares, compared to its average volume of 294,554. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.00. The stock has a market cap of $2,966.33, a P/E ratio of 25.87 and a beta of 2.88. TriNet Group has a twelve month low of $21.35 and a twelve month high of $43.53.

COPYRIGHT VIOLATION NOTICE: “TriNet Group, Inc. (NYSE:TNET) Announces Earnings Results, Beats Estimates By $0.30 EPS” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/11/13/trinet-group-inc-tnet-posts-quarterly-earnings-results-beats-expectations-by-0-30-eps.html.

In other news, insider Michael P. Murphy sold 3,851 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $34.01, for a total value of $130,972.51. Following the completion of the transaction, the insider now owns 18,133 shares of the company’s stock, valued at approximately $616,703.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Burton M. Goldfield sold 24,676 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $35.29, for a total value of $870,816.04. Following the completion of the transaction, the chief executive officer now directly owns 30,707 shares of the company’s stock, valued at approximately $1,083,650.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,260 shares of company stock worth $6,218,436. Company insiders own 41.80% of the company’s stock.

TNET has been the topic of several research analyst reports. Zacks Investment Research upgraded TriNet Group from a “sell” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research note on Thursday. BidaskClub upgraded TriNet Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Morgan Stanley boosted their target price on TriNet Group from $31.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, November 3rd. J P Morgan Chase & Co downgraded TriNet Group from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. Finally, Stifel Nicolaus restated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.00.

About TriNet Group

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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.

Earnings History for TriNet Group (NYSE:TNET)

Receive News & Ratings for TriNet Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriNet Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply