Trimble (NASDAQ:TRMB) Issues Q4 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.83-0.81 for the period, compared to the consensus 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.

Trimble Stock Performance

TRMB stock traded up $0.51 during trading on Friday, reaching $72.65. 1,300,123 shares of the stock were exchanged, compared to its average volume of 1,348,144. The stock has a 50 day simple moving average of $60.14 and a 200-day simple moving average of $57.39. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $17.74 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. Trimble has a twelve month low of $40.79 and a twelve month high of $73.17.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Trimble will post 2.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.