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 (EPS) guidance of 2.790-2.870 for the period, compared to the consensus 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.

Trimble Trading Up 0.3 %

Shares of Trimble stock traded up $0.25 during trading on Friday, reaching $72.39. 485,215 shares of the stock were exchanged, compared to its average volume of 1,344,389. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. Trimble has a 1 year low of $40.79 and a 1 year high of $73.17. The stock’s fifty day moving average is $60.14 and its 200 day moving average is $57.39.

Trimble (NASDAQ:TRMB) last released 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. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The business had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter last year, the business posted $0.51 EPS. The business’s revenue was down 12.4% on a year-over-year basis. As a group, equities research analysts expect that Trimble will post 2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TRMB has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird upped their price target on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday. One investment 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 currently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

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.