Sidoti Csr Issues Optimistic Estimate for TrueBlue Earnings

TrueBlue, Inc. (NYSE:TBI) – Stock analysts at Sidoti Csr lifted their FY2024 earnings per share estimates for shares of TrueBlue in a research report issued to clients and investors on Tuesday, November 5th. Sidoti Csr analyst M. Riddick now forecasts that the business services provider will post earnings per share of ($0.56) for the year, up from their previous estimate of ($0.65). The consensus estimate for TrueBlue’s current full-year earnings is ($0.65) per share. Sidoti Csr also issued estimates for TrueBlue’s Q4 2024 earnings at ($0.13) EPS.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative return on equity of 2.55% and a negative net margin of 6.97%. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday. StockNews.com cut TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th.

TrueBlue Stock Down 1.0 %

TBI stock opened at $8.08 on Thursday. The business has a 50 day moving average price of $7.63 and a 200 day moving average price of $9.30. The stock has a market cap of $247.01 million, a price-to-earnings ratio of -2.10 and a beta of 1.49. TrueBlue has a fifty-two week low of $6.97 and a fifty-two week high of $16.14.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. increased its holdings in shares of TrueBlue by 40.8% in the second quarter. Azarias Capital Management L.P. now owns 1,247,222 shares of the business services provider’s stock valued at $12,846,000 after purchasing an additional 361,101 shares during the period. Royce & Associates LP grew its holdings in TrueBlue by 28.5% during the third quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock worth $8,538,000 after acquiring an additional 239,740 shares during the period. Millennium Management LLC grew its holdings in TrueBlue by 6.3% during the second quarter. Millennium Management LLC now owns 532,039 shares of the business services provider’s stock worth $5,480,000 after acquiring an additional 31,683 shares during the period. Assenagon Asset Management S.A. grew its holdings in TrueBlue by 33.1% during the third quarter. Assenagon Asset Management S.A. now owns 386,432 shares of the business services provider’s stock worth $3,049,000 after acquiring an additional 96,072 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in TrueBlue by 0.4% during the first quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider’s stock worth $4,492,000 after acquiring an additional 1,303 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.