Trimble (NASDAQ:TRMB) Updates Q4 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.83-0.81 for the period, compared to the consensus earnings per share estimate of $0.88. The company issued revenue guidance of $925-965 million, compared to the consensus revenue estimate of $942.78 million. Trimble also updated its FY 2024 guidance to 2.790-2.870 EPS.

Wall Street Analyst Weigh In

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

Trimble Stock Up 0.7 %

NASDAQ TRMB traded up $0.51 during trading on Friday, hitting $72.65. 1,367,982 shares of the company traded hands, compared to its average volume of 1,348,457. Trimble has a 12 month low of $40.79 and a 12 month high of $73.17. The business has a fifty day simple moving average of $60.14 and a 200 day simple moving average of $57.39. The company has a market capitalization of $17.74 billion, a P/E ratio of 11.96, a PEG ratio of 3.23 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

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 for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period last year, the business earned $0.51 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Trimble will post 2.25 EPS for the current year.

About Trimble

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.