Sidoti Csr Has Bullish Forecast for TrueBlue FY2024 Earnings

TrueBlue, Inc. (NYSE:TBI) – Sidoti Csr lifted their FY2024 earnings per share estimates for shares of TrueBlue in a report issued on Tuesday, November 5th. Sidoti Csr analyst M. Riddick now anticipates that the business services provider will post earnings per share of ($0.56) for the year, up from their previous 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.

Several other equities analysts also recently issued reports on the stock. 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 objective on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday.

TrueBlue Price Performance

NYSE:TBI opened at $7.87 on Thursday. The firm has a 50 day moving average of $7.62 and a 200 day moving average of $9.28. TrueBlue has a 52 week low of $6.97 and a 52 week high of $16.14.

TrueBlue (NYSE:TBI) last issued 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. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.69%. The company had revenue of $382.36 million for the quarter, compared to analyst estimates of $386.07 million. During the same period last year, the company posted $0.16 earnings per share. TrueBlue’s revenue was down 19.2% compared to the same quarter last year.

Institutional Trading of TrueBlue

A number of hedge funds have recently modified their holdings of the stock. Azarias Capital Management L.P. increased 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 purchasing an additional 361,101 shares in the last quarter. Royce & Associates LP increased its stake in shares of TrueBlue by 28.5% in the 3rd quarter. Royce & Associates LP now owns 1,082,085 shares of the business services provider’s stock valued at $8,538,000 after purchasing an additional 239,740 shares in the last quarter. Invenomic Capital Management LP purchased a new position in TrueBlue during the first quarter worth approximately $1,557,000. Marshall Wace LLP lifted its position in shares of TrueBlue by 330.7% during the 2nd quarter. Marshall Wace LLP now owns 143,910 shares of the business services provider’s stock valued at $1,482,000 after buying an additional 110,495 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in TrueBlue by 85.2% in the 3rd quarter. GSA Capital Partners LLP now owns 220,892 shares of the business services provider’s stock worth $1,743,000 after acquiring an additional 101,589 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

About TrueBlue

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.