TrueBlue, Inc. (TBI) Expected to Announce Quarterly Sales of $652.13 Million

Brokerages predict that TrueBlue, Inc. (NYSE:TBI) will post sales of $652.13 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for TrueBlue’s earnings, with the highest sales estimate coming in at $652.34 million and the lowest estimate coming in at $651.91 million. TrueBlue reported sales of $697.10 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.5%. The company is expected to issue its next earnings results after the market closes on Wednesday, October 18th.

On average, analysts expect that TrueBlue will report full-year sales of $652.13 million for the current year, with estimates ranging from $2.51 billion to $2.52 billion. For the next financial year, analysts anticipate that the business will report sales of $2.58 billion per share, with estimates ranging from $2.55 billion to $2.62 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for TrueBlue.

TrueBlue (NYSE:TBI) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The firm had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $610.04 million. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. TrueBlue’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS.

A number of research analysts have recently commented on the company. BidaskClub lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet raised TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 target price (down previously from $26.00) on shares of TrueBlue in a report on Friday, August 11th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 target price on shares of TrueBlue in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.25.

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In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $23.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 52,061 shares of the company’s stock, valued at approximately $1,197,403. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBI. BlackRock Inc. grew its holdings in TrueBlue by 50,858.0% in the 1st quarter. BlackRock Inc. now owns 5,165,614 shares of the business services provider’s stock valued at $141,280,000 after buying an additional 5,155,477 shares during the last quarter. Vanguard Group Inc. grew its holdings in TrueBlue by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock valued at $119,777,000 after buying an additional 627,033 shares during the last quarter. FMR LLC grew its holdings in TrueBlue by 32.5% in the 1st quarter. FMR LLC now owns 1,041,300 shares of the business services provider’s stock valued at $28,480,000 after buying an additional 255,207 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in TrueBlue in the 1st quarter valued at approximately $5,531,000. Finally, Ameriprise Financial Inc. grew its holdings in TrueBlue by 28.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 840,797 shares of the business services provider’s stock valued at $22,281,000 after buying an additional 184,641 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

TrueBlue (NYSE:TBI) opened at 23.35 on Tuesday. TrueBlue has a 12-month low of $16.50 and a 12-month high of $28.70. The stock has a market cap of $970.85 million, a PE ratio of 16.49 and a beta of 2.40. The firm has a 50-day moving average price of $21.76 and a 200-day moving average price of $24.60.

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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