Wall Street brokerages expect TrueBlue, Inc. (NYSE:TBI) to announce earnings per share of $0.42 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for TrueBlue’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.41. TrueBlue posted earnings per share of $0.51 during the same quarter last year, which would suggest a negative year over year growth rate of 17.6%. The firm is scheduled to report its next earnings results on Wednesday, July 19th.
On average, analysts expect that TrueBlue will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.80 to $1.93. For the next year, analysts expect that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.11. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for TrueBlue.
TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, May 1st. The business services provider reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The firm had revenue of $568.24 million for the quarter, compared to analyst estimates of $569.85 million. TrueBlue had a negative net margin of 0.66% and a positive return on equity of 16.30%. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS.
A number of brokerages recently issued reports on TBI. BMO Capital Markets upgraded shares of TrueBlue from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $25.00 to $28.00 in a research report on Friday, May 26th. Zacks Investment Research upgraded shares of TrueBlue from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, April 12th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $22.50.
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TrueBlue (TBI) traded down 1.69% during mid-day trading on Thursday, hitting $26.10. 510,061 shares of the stock traded hands. The company’s market cap is $1.09 billion. The stock’s 50 day moving average is $26.88 and its 200-day moving average is $25.62. TrueBlue has a 12 month low of $16.50 and a 12 month high of $28.70.
In other TrueBlue news, CFO Derrek Lane Gafford sold 20,000 shares of TrueBlue stock in a transaction on Monday, June 5th. The shares were sold at an average price of $27.75, for a total value of $555,000.00. Following the transaction, the chief financial officer now owns 91,859 shares in the company, valued at approximately $2,549,087.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven C. Cooper sold 40,000 shares of TrueBlue stock in a transaction on Friday, May 5th. The shares were sold at an average price of $27.03, for a total transaction of $1,081,200.00. Following the completion of the transaction, the chief executive officer now owns 218,171 shares in the company, valued at approximately $5,897,162.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,000 shares of company stock worth $2,479,200. 2.00% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bogle Investment Management L P DE bought a new position in shares of TrueBlue during the fourth quarter worth $291,000. Two Sigma Investments LP bought a new position in shares of TrueBlue during the fourth quarter worth $781,000. A.R.T. Advisors LLC bought a new position in shares of TrueBlue during the fourth quarter worth $926,000. Envestnet Asset Management Inc. raised its position in shares of TrueBlue by 10.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,470 shares of the business services provider’s stock worth $258,000 after buying an additional 978 shares during the period. Finally, Arrowpoint Asset Management LLC raised its position in shares of TrueBlue by 41.0% in the fourth quarter. Arrowpoint Asset Management LLC now owns 312,048 shares of the business services provider’s stock worth $7,692,000 after buying an additional 90,704 shares during the period. Institutional investors own 90.65% of the company’s stock.
TrueBlue Company Profile
TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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