Trimble (NASDAQ:TRMB) Issues FY 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.600-2.800 for the period, compared to the consensus estimate of 2.730. 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 FY24 guidance to $2.60-2.80 EPS.

Analyst Ratings Changes

TRMB has been the subject of a number of research analyst reports. Oppenheimer upped their target price on Trimble from $65.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, March 14th. Piper Sandler restated an overweight rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, April 15th. Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. StockNews.com cut shares of Trimble from a buy rating to a hold rating in a research note on Saturday, February 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Trimble from $57.00 to $67.00 and gave the stock a neutral rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $66.67.

Trimble Price Performance

TRMB traded down $4.16 on Friday, hitting $55.93. 3,314,677 shares of the company were exchanged, compared to its average volume of 1,396,192. The business’s fifty day moving average is $61.66 and its 200 day moving average is $53.74. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. The firm has a market capitalization of $13.66 billion, a P/E ratio of 44.74, a price-to-earnings-growth ratio of 2.63 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last posted its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. Trimble’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Trimble will post 2.23 EPS for the current year.

Insider Activity at Trimble

In other news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the sale, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the sale, the vice president now owns 2,315 shares in the company, valued at approximately $137,927.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,828 shares of company stock valued at $1,013,519. Company insiders own 0.47% of the company’s stock.

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.