Trimble (NASDAQ:TRMB) Updates FY 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.790-2.870 for the period, compared to the consensus earnings per share estimate of 2.750. The company issued revenue guidance of $3.6 billion-$3.7 billion, compared to the consensus revenue estimate of $3.6 billion. Trimble also updated its Q4 guidance to $0.83-0.81 EPS.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a report on Monday, August 19th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a 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. According to MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.40.

Trimble Stock Up 0.5 %

TRMB stock opened at $61.62 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The firm has a market cap of $15.05 billion, a PE ratio of 10.07, a P/E/G ratio of 2.75 and a beta of 1.49. Trimble has a 12 month low of $40.79 and a 12 month high of $65.55. The firm has a 50 day simple moving average of $59.49 and a 200 day simple moving average of $57.18.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. Equities research analysts forecast that Trimble will post 2.23 earnings per share for the current fiscal 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.