Trueblue Down 10.7% On Earnings Miss (TBI)
February 10, 2011 4:00 PM
Shares of Tacoma, Washington-based Trueblue, Inc. (NYSE: TBI) are currently down 10.7% at $16.87 per share during Thursday afternoon trading. Today's trading range for shares of Trueblue, Inc has been between $15.55 and $17.20 per share. The consensus price target of analysts covering the company's stock is $20.43 per share.
Volume of 1.1 million shares is far above the daily average volume of 228,000 shares.
Trueblue, Inc. (TBI) released financial results late on Wednesday that missed Wall Street earnings estimates. Trueblue, Inc reported 4th quarter earnings of 9 cents per share, on revenue of $312 million. The quarterly revenue figure benefited from an extra week this year. Excluding the extra week, revenue would have been approximately $299 million.
A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 12 cents per share, on revenue of $302.76 million.
Trueblue, Inc is a leading provider of blue-collar staffing.
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