Trimble (NASDAQ:TRMB) Releases 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.

Wall Street Analysts Forecast Growth

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

Trimble Stock Up 0.7 %

Shares of Trimble stock traded up $0.51 during trading on Friday, hitting $72.65. 1,395,670 shares of the stock traded hands, compared to its average volume of 1,348,584. The stock has a market cap 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 fifty day moving average price of $60.14 and a two-hundred day moving average price of $57.39. Trimble has a twelve month low of $40.79 and a twelve month high of $73.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 1.16.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results 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. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.67% and a return on equity of 10.18%. Trimble’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. Equities research analysts predict that Trimble will post 2.25 EPS for the current fiscal 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.