Trimble (NASDAQ:TRMB) Updates Q4 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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 Analysts Forecast Growth

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

Trimble Price Performance

TRMB traded up $0.51 during midday trading on Friday, reaching $72.65. 1,367,982 shares of the company’s stock were exchanged, compared to its average volume of 1,348,457. Trimble has a one year low of $40.79 and a one year high of $73.17. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The business has a 50-day simple moving average of $60.14 and a two-hundred day simple moving average of $57.39. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $862.50 million. During the same quarter in the previous year, the firm earned $0.51 EPS. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, research 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.