$202.66 Million in Sales Expected for TriNet Group Inc (TNET) This Quarter

Analysts forecast that TriNet Group Inc (NYSE:TNET) will report sales of $202.66 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for TriNet Group’s earnings. The lowest sales estimate is $199.34 million and the highest is $205.60 million. TriNet Group reported sales of $205.90 million in the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that TriNet Group will report full-year sales of $859.03 million for the current financial year, with estimates ranging from $856.16 million to $862.54 million. For the next fiscal year, analysts expect that the company will report sales of $936.17 million, with estimates ranging from $916.80 million to $953.81 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for TriNet Group.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Monday, July 30th. The business services provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.27. The business had revenue of $220.00 million during the quarter, compared to analyst estimates of $208.41 million. TriNet Group had a net margin of 6.54% and a return on equity of 74.08%. TriNet Group’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS.

Several research firms have recently issued reports on TNET. Credit Suisse Group began coverage on shares of TriNet Group in a research note on Friday, August 10th. They issued a “neutral” rating and a $65.00 target price for the company. Zacks Investment Research upgraded shares of TriNet Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Saturday, August 4th. Morgan Stanley upped their target price on shares of TriNet Group from $51.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus upped their target price on shares of TriNet Group from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. TriNet Group currently has an average rating of “Buy” and an average target price of $61.75.

TNET stock traded up $1.14 during midday trading on Friday, reaching $54.60. 11,322 shares of the company’s stock traded hands, compared to its average volume of 324,019. The firm has a market capitalization of $3.72 billion, a PE ratio of 31.56 and a beta of 2.39. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.30. TriNet Group has a 52 week low of $32.73 and a 52 week high of $60.15.

In related news, CEO Burton M. Goldfield sold 6,762 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $54.24, for a total transaction of $366,770.88. Following the completion of the transaction, the chief executive officer now owns 207,228 shares in the company, valued at $11,240,046.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Burton M. Goldfield sold 17,563 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $55.09, for a total transaction of $967,545.67. Following the transaction, the chief executive officer now owns 212,883 shares of the company’s stock, valued at approximately $11,727,724.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,976 shares of company stock valued at $11,277,273. 38.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TNET. Acadian Asset Management LLC bought a new position in TriNet Group during the second quarter valued at about $37,832,000. Summit Trail Advisors LLC grew its position in TriNet Group by 5,180.9% during the first quarter. Summit Trail Advisors LLC now owns 536,752 shares of the business services provider’s stock valued at $537,000 after buying an additional 526,588 shares during the period. BlackRock Inc. lifted its holdings in TriNet Group by 16.5% during the second quarter. BlackRock Inc. now owns 3,052,180 shares of the business services provider’s stock valued at $170,740,000 after purchasing an additional 432,894 shares during the last quarter. Boston Advisors LLC purchased a new stake in TriNet Group during the second quarter valued at about $23,653,000. Finally, Cantillon Capital Management LLC lifted its holdings in TriNet Group by 9.0% during the second quarter. Cantillon Capital Management LLC now owns 4,514,891 shares of the business services provider’s stock valued at $252,563,000 after purchasing an additional 374,286 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.

TriNet Group Company Profile

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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