Trueblue (NYSE:TBI) Releases Q1 Earnings Guidance

Trueblue (NYSE:TBI) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.18-0.24 for the period, compared to the Thomson Reuters consensus estimate of $0.25. The company issued revenue guidance of $557-572 million, compared to the consensus revenue estimate of $576.56 million.

Trueblue (TBI) traded down $0.50 during mid-day trading on Thursday, reaching $28.25. 102,483 shares of the company’s stock traded hands, compared to its average volume of 237,221. The stock has a market cap of $1,190.00, a PE ratio of 21.46 and a beta of 2.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.02 and a quick ratio of 1.77. Trueblue has a 12-month low of $19.30 and a 12-month high of $29.50.

Trueblue (NYSE:TBI) last released its earnings results on Wednesday, February 7th. The business services provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $667.66 million. Trueblue had a net margin of 2.21% and a return on equity of 13.30%. Trueblue’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. equities analysts anticipate that Trueblue will post 2.21 earnings per share for the current year.

Trueblue announced that its board has approved a stock buyback program on Monday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

TBI has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Trueblue from a hold rating to a sell rating in a research note on Tuesday, January 2nd. BMO Capital Markets lifted their target price on shares of Trueblue from $23.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday, November 1st. TheStreet raised shares of Trueblue from a c+ rating to a b rating in a research note on Friday, November 17th. Finally, Robert W. Baird boosted their price objective on shares of Trueblue from $25.00 to $26.00 and gave the company a neutral rating in a research note on Tuesday, October 31st. One equities 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. Trueblue has an average rating of Hold and an average target price of $28.67.

In other news, Director Bonnie W. Soodik sold 20,871 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $27.85, for a total transaction of $581,257.35. Following the completion of the sale, the director now directly owns 2,119 shares of the company’s stock, valued at approximately $59,014.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wayne W. Larkin sold 12,600 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $28.54, for a total transaction of $359,604.00. Following the sale, the executive vice president now directly owns 39,461 shares of the company’s stock, valued at $1,126,216.94. The disclosure for this sale can be found here. Insiders have sold a total of 57,371 shares of company stock valued at $1,611,495 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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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.

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