Trimble (NASDAQ:TRMB) Releases Earnings Results, Beats Estimates By $0.04 EPS

Trimble (NASDAQ:TRMB) issued its earnings results on Tuesday. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04, Briefing.com reports. The business had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS.

Trimble Stock Down 0.9 %

NASDAQ TRMB traded down $0.46 on Friday, reaching $51.08. The stock had a trading volume of 23,846 shares, compared to its average volume of 1,380,169. The business has a 50 day moving average price of $55.21 and a 200 day moving average price of $57.54. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 53.69, a P/E/G ratio of 2.34 and a beta of 1.50.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRMB. Robert W. Baird lifted their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday. Piper Sandler downgraded Trimble from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Raymond James reiterated an “outperform” rating and set a $65.00 price target on shares of Trimble in a report on Wednesday, May 15th. Finally, StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.33.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.