Trimble (NASDAQ:TRMB) Releases Q3 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.58-0.64 for the period, compared to the consensus estimate of $0.63. The company issued revenue guidance of $840-880 million, compared to the consensus revenue estimate of $871.14 million. Trimble also updated its FY 2024 guidance to 2.670-2.810 EPS.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TRMB shares. JPMorgan Chase & Co. dropped their price target on Trimble from $65.00 to $58.00 and set a neutral rating on the stock in a research note on Wednesday. Raymond James restated an outperform rating and set a $65.00 price target on shares of Trimble in a report on Wednesday, May 15th. StockNews.com raised shares of Trimble from a hold rating to a buy rating in a research note on Wednesday. Piper Sandler reissued an overweight rating and set a $73.00 target price on shares of Trimble in a research note on Monday, May 6th. Finally, Robert W. Baird raised their target price on Trimble from $65.00 to $66.00 and gave the stock an outperform rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trimble presently has an average rating of Moderate Buy and an average price target of $65.33.

Trimble Stock Performance

Shares of Trimble stock traded up $1.07 during trading on Thursday, reaching $51.66. The company’s stock had a trading volume of 463,216 shares, compared to its average volume of 1,383,268. Trimble has a one year low of $39.57 and a one year high of $65.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 53.31, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50. The business’s fifty day moving average price is $55.29 and its 200-day moving average price is $57.58.

Trimble (NASDAQ:TRMB) last released 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. The business had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. Trimble’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, equities research analysts predict that Trimble will post 2.21 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.