$299.68 Million in Sales Expected for TriNet Group, Inc. (NYSE:TNET) This Quarter

Wall Street brokerages expect TriNet Group, Inc. (NYSE:TNETGet Rating) to post sales of $299.68 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 $297.49 million and the highest estimate coming in at $301.36 million. TriNet Group reported sales of $302.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that TriNet Group will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.23 billion to $1.25 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.34 billion, with estimates ranging from $1.33 billion to $1.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover TriNet Group.

TriNet Group (NYSE:TNETGet Rating) last released its earnings results on Tuesday, April 26th. The business services provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.65. TriNet Group had a return on equity of 50.20% and a net margin of 8.15%. During the same quarter in the previous year, the firm earned $1.52 earnings per share.

TNET has been the subject of several research analyst reports. StockNews.com downgraded shares of TriNet Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 14th. Zacks Investment Research downgraded TriNet Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.48.

NYSE TNET opened at $79.23 on Friday. The business has a fifty day moving average price of $91.81 and a two-hundred day moving average price of $93.13. The stock has a market capitalization of $4.93 billion, a PE ratio of 13.73 and a beta of 1.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.17 and a quick ratio of 1.17. TriNet Group has a fifty-two week low of $69.43 and a fifty-two week high of $109.40.

In related news, CEO Burton M. Goldfield sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $90.97, for a total transaction of $181,940.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin Babinec sold 19,600 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $87.52, for a total value of $1,715,392.00. The disclosure for this sale can be found here. Insiders sold a total of 71,399 shares of company stock worth $6,400,625 over the last three months. 40.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cantillon Capital Management LLC grew its holdings in shares of TriNet Group by 2.8% in the first quarter. Cantillon Capital Management LLC now owns 3,593,304 shares of the business services provider’s stock valued at $353,438,000 after acquiring an additional 98,408 shares in the last quarter. BlackRock Inc. grew its holdings in TriNet Group by 2.4% during the third quarter. BlackRock Inc. now owns 3,405,606 shares of the business services provider’s stock valued at $322,102,000 after purchasing an additional 78,945 shares during the period. Mawer Investment Management Ltd. grew its holdings in TriNet Group by 1.0% during the first quarter. Mawer Investment Management Ltd. now owns 2,589,089 shares of the business services provider’s stock valued at $254,663,000 after purchasing an additional 25,796 shares during the period. Dimensional Fund Advisors LP grew its holdings in TriNet Group by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,241,967 shares of the business services provider’s stock valued at $118,310,000 after purchasing an additional 9,178 shares during the period. Finally, State Street Corp lifted its position in shares of TriNet Group by 1.2% during the fourth quarter. State Street Corp now owns 807,297 shares of the business services provider’s stock worth $76,903,000 after acquiring an additional 9,222 shares in the last quarter. 96.56% of the stock is owned by hedge funds and other institutional investors.

About TriNet Group (Get Rating)

TriNet Group, Inc provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize 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.

Featured Articles

Get a free copy of the Zacks research report on TriNet Group (TNET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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