Trueblue (TBI) Updates Q1 Earnings Guidance

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

TBI has been the topic of several analyst reports. BMO Capital Markets cut their target price on shares of Trueblue from $30.00 to $29.00 and set a market perform rating on the stock in a report on Thursday. Zacks Investment Research lowered shares of Trueblue from a hold rating to a sell rating in a report on Tuesday, January 2nd. TheStreet upgraded shares of Trueblue from a c+ rating to a b rating in a report on Friday, November 17th. Finally, Robert W. Baird increased their target price on shares of Trueblue from $25.00 to $26.00 and gave the stock a neutral rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $27.50.

Trueblue (NYSE TBI) traded up $0.90 on Thursday, reaching $26.80. 287,331 shares of the company’s stock traded hands, compared to its average volume of 204,553. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,062.99, a price-to-earnings ratio of 19.89 and a beta of 2.28. Trueblue has a 12 month low of $19.30 and a 12 month high of $29.50.

Trueblue (NYSE:TBI) last posted its earnings results on Wednesday, February 7th. The business services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $669.63 million for the quarter, compared to analyst estimates of $667.66 million. Trueblue had a net margin of 2.22% and a return on equity of 14.05%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. research analysts forecast that Trueblue will post 1.7 earnings per share for the current fiscal year.

Trueblue announced that its board has authorized a stock buyback program on Monday, October 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other Trueblue news, CEO Steven C. Cooper sold 23,900 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now owns 39,461 shares in the company, valued at $1,126,216.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,000 shares of company stock worth $1,241,438. Company insiders own 2.00% of the company’s stock.

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About Trueblue

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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