Analysts Expect TrueBlue, Inc. (NYSE:TBI) to Post $0.20 Earnings Per Share

Brokerages predict that TrueBlue, Inc. (NYSE:TBI) will announce earnings of $0.20 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for TrueBlue’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.28. TrueBlue reported earnings of ($0.12) per share during the same quarter last year, which would indicate a positive year over year growth rate of 266.7%. The business is expected to announce its next earnings results on Monday, July 26th.

On average, analysts expect that TrueBlue will report full-year earnings of $1.28 per share for the current year, with EPS estimates ranging from $1.02 to $1.53. For the next fiscal year, analysts anticipate that the business will report earnings of $1.75 per share, with EPS estimates ranging from $1.60 to $1.89. Zacks’ EPS averages are a mean average based on a survey of research firms that cover TrueBlue.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Sunday, April 25th. The business services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.32. The firm had revenue of $458.71 million for the quarter, compared to analyst estimates of $449.23 million. TrueBlue had a negative net margin of 7.36% and a positive return on equity of 3.97%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share.

Several analysts recently commented on TBI shares. Zacks Investment Research upgraded shares of TrueBlue from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a research report on Friday, April 30th. Credit Suisse Group raised their price target on shares of TrueBlue from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, May 3rd. Finally, Robert W. Baird upgraded shares of TrueBlue from a “neutral” rating to an “outperform” rating and raised their price target for the company from $21.00 to $29.00 in a research report on Monday, May 3rd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. TrueBlue has an average rating of “Buy” and a consensus price target of $25.00.

In other news, CFO Derrek Lane Gafford sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $28.81, for a total value of $432,150.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Richard Christensen sold 2,556 shares of the firm’s stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $28.55, for a total transaction of $72,973.80. Following the completion of the transaction, the chief accounting officer now directly owns 13,535 shares in the company, valued at $386,424.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,558 shares of company stock worth $2,363,547. Insiders own 2.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. QS Investors LLC raised its stake in TrueBlue by 2.5% during the fourth quarter. QS Investors LLC now owns 20,449 shares of the business services provider’s stock worth $382,000 after purchasing an additional 500 shares during the period. Pacer Advisors Inc. raised its stake in TrueBlue by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 17,632 shares of the business services provider’s stock worth $330,000 after purchasing an additional 709 shares during the period. UBS Group AG raised its stake in TrueBlue by 3.4% during the first quarter. UBS Group AG now owns 23,611 shares of the business services provider’s stock worth $520,000 after purchasing an additional 768 shares during the period. Sei Investments Co. raised its stake in TrueBlue by 0.6% during the third quarter. Sei Investments Co. now owns 151,659 shares of the business services provider’s stock worth $2,319,000 after purchasing an additional 887 shares during the period. Finally, Strs Ohio raised its stake in TrueBlue by 2.2% during the first quarter. Strs Ohio now owns 41,000 shares of the business services provider’s stock worth $902,000 after purchasing an additional 900 shares during the period. 90.69% of the stock is currently owned by institutional investors.

TBI stock traded down $0.01 during midday trading on Monday, hitting $27.28. 135,711 shares of the stock traded hands, compared to its average volume of 210,523. The firm has a market cap of $967.65 million, a P/E ratio of -7.20 and a beta of 1.70. The stock’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $20.87. TrueBlue has a 1-year low of $12.30 and a 1-year high of $29.90.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries.

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