Trueblue (NYSE:TBI) Issues Quarterly Earnings Results

Trueblue (NYSE:TBI) posted its earnings results on Wednesday, February 7th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03, reports. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The business had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $667.66 million. During the same period in the prior year, the business earned $0.58 EPS. Trueblue’s revenue for the quarter was down 8.9% compared to the same quarter last year. Trueblue updated its Q1 guidance to $0.18-0.24 EPS.

Trueblue (NYSE:TBI) traded down $0.50 during midday trading on Thursday, hitting $28.25. The stock had a trading volume of 85,198 shares, compared to its average volume of 236,891. The firm has a market cap of $1,190.00, a P/E ratio of 21.46 and a beta of 2.27. The company has a current ratio of 2.02, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21. Trueblue has a 12 month low of $19.30 and a 12 month high of $29.50.

A number of equities analysts have weighed in on TBI shares. Robert W. Baird upped their price target on Trueblue from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Zacks Investment Research downgraded Trueblue from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. BMO Capital Markets upped their price target on Trueblue from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 1st. Finally, TheStreet raised Trueblue from a “c+” rating to a “b” rating in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.67.

Trueblue announced that its board has approved a stock repurchase plan on Monday, October 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

In other Trueblue news, EVP Wayne W. Larkin sold 12,600 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $28.54, for a total transaction of $359,604.00. Following the completion of the sale, the executive vice president now owns 39,461 shares of the company’s stock, valued at approximately $1,126,216.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven C. Cooper sold 23,900 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $28.06, for a total value of $670,634.00. The disclosure for this sale can be found here. In the last three months, insiders sold 57,371 shares of company stock valued at $1,611,495. 2.00% of the stock is currently owned by insiders.

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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.

Earnings History for Trueblue (NYSE:TBI)

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