Stock Alert: Insperity Plummets 19%

(RTTNews) - Insperity, Inc. (NSP) plunged $17.44 or 19.58% on Wednesday after the human resources solutions provider reported its quarterly results. The stock closed the day's trading at $71.64, having lost more than 40% over the past one year.

EPS in the fourth quarter was down at $0.51 from $0.59 in the year-ago quarter. Adjusted EPS of $0.57 was also down 17% year over year, but beat estimates of analysts polled by Thomson Reuters by 2 cents. Earnings were affected by increased operating expenses.

Paul J. Sarvadi, Insperity chairman and chief executive officer said, "... We have experienced some unusual and unexpected challenges over the past year. We have responded decisively and have a plan in place to regain our momentum in growth and profitability as we move through 2020." Revenue for the quarter rose 11% year-on-year to $ $1.1 billion on a 10% increase in the average number of worksite employees paid per month.

For the first quarter, Insperity sees adjusted EPS in the range of $1.61 to $1.70. The street expects earnings of $1.62 per share.

Adjusted EPS for the full-year are expected between $3.73 and $4.16. Analysts have a consensus estimate of $3.93 per share.