TrueBlue (NYSE:TBI) Issues Earnings Results

TrueBlue (NYSE:TBI) released its earnings results on Monday. The business services provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30), Briefing.com reports. The firm had revenue of $396.00 million for the quarter, compared to the consensus estimate of $414.49 million. TrueBlue had a positive return on equity of 3.02% and a negative net margin of 0.63%. TrueBlue’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS.

TrueBlue Stock Performance

TrueBlue stock opened at $8.10 on Wednesday. TrueBlue has a 52 week low of $7.67 and a 52 week high of $16.14. The stock has a market capitalization of $247.62 million, a P/E ratio of -21.89, a PEG ratio of 13.71 and a beta of 1.51. The stock has a 50-day simple moving average of $10.70 and a 200 day simple moving average of $11.47.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com cut TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird lowered their target price on TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $13.00 target price on shares of TrueBlue in a research report on Monday, June 17th.

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.