FY2024 Earnings Forecast for TrueBlue Issued By Sidoti Csr

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

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

TrueBlue Stock Down 2.6 %

NYSE:TBI opened at $7.87 on Thursday. The company has a 50 day moving average price of $7.62 and a 200 day moving average price of $9.28. TrueBlue has a fifty-two week low of $6.97 and a fifty-two week high of $16.14.

TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, November 4th. The business services provider reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. TrueBlue had a negative return on equity of 2.69% and a negative net margin of 6.97%. The company had revenue of $382.36 million for the quarter, compared to analyst estimates of $386.07 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year.

Institutional Trading of TrueBlue

Institutional investors and hedge funds have recently bought and sold shares of the business. Invenomic Capital Management LP acquired a new stake in shares of TrueBlue in the first quarter valued at approximately $1,557,000. Assenagon Asset Management S.A. boosted its position in shares of TrueBlue by 33.1% in 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 buying an additional 96,072 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of TrueBlue in the first quarter valued at about $192,000. Azarias Capital Management L.P. raised its holdings in shares of TrueBlue by 40.8% during the 2nd 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 buying an additional 361,101 shares during the period. Finally, Quantbot Technologies LP lifted its position in TrueBlue by 181.3% during the 1st quarter. Quantbot Technologies LP now owns 41,987 shares of the business services provider’s stock worth $526,000 after acquiring an additional 27,060 shares in the last quarter. Hedge funds and other institutional investors 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.