Trimble (NASDAQ:TRMB) Issues Q4 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.830-0.910 for the period, compared to the consensus earnings per share estimate of 0.880. The company issued revenue guidance of $925.0 million-$965.0 million, compared to the consensus revenue estimate of $942.8 million. Trimble also updated its FY 2024 guidance to 2.790-2.870 EPS.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TRMB shares. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler raised their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Robert W. Baird raised their target price on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.40.

Trimble Stock Performance

Shares of NASDAQ TRMB traded up $0.62 during mid-day trading on Friday, reaching $72.76. 533,705 shares of the company were exchanged, compared to its average volume of 1,344,471. The stock has a market capitalization of $17.77 billion, a P/E ratio of 11.96, a P/E/G ratio of 3.23 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The company’s 50-day simple moving average is $60.14 and its 200-day simple moving average is $57.39. Trimble has a twelve month low of $40.79 and a twelve month high of $73.17.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. 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. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, research analysts predict that Trimble will post 2.25 earnings per share for the current year.

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.