Zacks: Analysts Expect TriNet (TNET) to Post $0.63 Earnings Per Share

Equities research analysts expect TriNet (NYSE:TNET) to announce earnings of $0.63 per share for the current quarter, according to Zacks. Four analysts have made estimates for TriNet’s earnings. The lowest EPS estimate is $0.56 and the highest is $0.70. TriNet posted earnings per share of $0.45 during the same quarter last year, which would suggest a positive year-over-year growth rate of 40%. The company is scheduled to announce its next earnings report on Tuesday, May 1st.

On average, analysts expect that TriNet will report full-year earnings of $2.59 per share for the current financial year, with EPS estimates ranging from $2.56 to $2.62. For the next financial year, analysts anticipate that the firm will report earnings of $2.88 per share, with EPS estimates ranging from $2.73 to $3.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for TriNet.

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TriNet (NYSE:TNET) last released its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.05). The company had revenue of $204.00 million for the quarter, compared to analyst estimates of $198.33 million. TriNet had a net margin of 5.42% and a return on equity of 102.76%.

TNET has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price target on TriNet to $54.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. ValuEngine raised shares of TriNet from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Morgan Stanley raised shares of TriNet from an “underweight” rating to an “equal weight” rating and set a $46.00 target price on the stock in a research report on Wednesday, April 4th. Finally, Zacks Investment Research raised shares of TriNet from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.20.

TNET stock traded up $1.01 during mid-day trading on Tuesday, reaching $50.14. 120,986 shares of the company traded hands, compared to its average volume of 378,022. The company has a market capitalization of $3,386.47, a P/E ratio of 29.12 and a beta of 2.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.13 and a current ratio of 1.13. TriNet has a fifty-two week low of $27.27 and a fifty-two week high of $50.79.

TriNet declared that its board has approved a stock buyback program on Tuesday, February 27th that permits the company to buyback $120.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Wayne B. Lowell sold 10,000 shares of TriNet stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $47.54, for a total value of $475,400.00. Following the sale, the director now owns 26,381 shares of the company’s stock, valued at approximately $1,254,152.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Burton M. Goldfield sold 17,809 shares of TriNet stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $41.78, for a total transaction of $744,060.02. Following the completion of the sale, the chief executive officer now directly owns 32,234 shares in the company, valued at approximately $1,346,736.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 392,114 shares of company stock worth $17,977,509. Insiders own 41.80% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Atairos Group Inc. purchased a new position in TriNet in the 4th quarter valued at approximately $864,822,000. Deutsche Bank AG grew its stake in TriNet by 18.7% in the 4th quarter. Deutsche Bank AG now owns 515,972 shares of the business services provider’s stock valued at $22,877,000 after buying an additional 81,332 shares in the last quarter. JPMorgan Chase & Co. grew its stake in TriNet by 11.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 500,930 shares of the business services provider’s stock valued at $17,437,000 after buying an additional 51,603 shares in the last quarter. California Public Employees Retirement System grew its position in shares of TriNet by 6.0% during the 4th quarter. California Public Employees Retirement System now owns 31,988 shares of the business services provider’s stock valued at $1,418,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of TriNet by 22.3% during the 4th quarter. Wells Fargo & Company MN now owns 158,190 shares of the business services provider’s stock valued at $7,014,000 after purchasing an additional 28,858 shares in the last quarter. 85.94% of the stock is currently owned by institutional investors.

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About TriNet

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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