TrueBlue (NYSE:TBI) Releases Earnings Results, Beats Estimates By $0.04 EPS

TrueBlue (NYSE:TBI) announced its earnings results on Monday. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04, Briefing.com reports. TrueBlue had a negative return on equity of 2.55% and a negative net margin of 6.97%. The business had revenue of $382.36 million for the quarter, compared to analyst estimates of $386.07 million. During the same quarter last year, the firm earned $0.16 EPS. TrueBlue’s revenue for the quarter was down 19.2% compared to the same quarter last year. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Trading Up 0.2 %

Shares of TBI traded up $0.02 during midday trading on Thursday, reaching $8.18. The stock had a trading volume of 78,059 shares, compared to its average volume of 318,331. The firm has a 50 day simple moving average of $7.63 and a 200-day simple moving average of $9.31. The firm has a market cap of $250.06 million, a PE ratio of -2.13 and a beta of 1.49. TrueBlue has a one year low of $6.97 and a one year high of $16.14.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TBI shares. StockNews.com downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. BMO Capital Markets lowered their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday.

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.