Zacks: Brokerages Anticipate Trimble Inc. (NASDAQ:TRMB) Will Announce Quarterly Sales of $719.68 Million

Analysts predict that Trimble Inc. (NASDAQ:TRMB) will report $719.68 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Trimble’s earnings, with the lowest sales estimate coming in at $694.38 million and the highest estimate coming in at $734.18 million. Trimble reported sales of $783.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 8.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 4th.

According to Zacks, analysts expect that Trimble will report full year sales of $3.02 billion for the current fiscal year, with estimates ranging from $3.00 billion to $3.04 billion. For the next financial year, analysts forecast that the firm will post sales of $3.22 billion, with estimates ranging from $3.16 billion to $3.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Trimble.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.31 by $0.14. The company had revenue of $733.60 million during the quarter, compared to analysts’ expectations of $694.58 million. Trimble had a net margin of 15.39% and a return on equity of 14.69%.

Several analysts have commented on TRMB shares. Raymond James upped their target price on shares of Trimble from $44.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Oppenheimer reissued a “buy” rating and issued a $53.00 price target on shares of Trimble in a report on Thursday, August 6th. Morgan Stanley increased their price target on shares of Trimble from $30.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. BidaskClub raised shares of Trimble from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Finally, Craig Hallum raised their target price on shares of Trimble from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $48.50.

Shares of Trimble stock opened at $52.34 on Thursday. The firm has a fifty day moving average of $50.19 and a two-hundred day moving average of $43.01. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 3.95 and a beta of 1.64. Trimble has a 52 week low of $20.01 and a 52 week high of $54.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.67 and a current ratio of 0.96.

In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $52.00, for a total transaction of $182,000.00. Following the transaction, the chief executive officer now owns 80,325 shares in the company, valued at $4,176,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald S. Nersesian sold 30,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $49.03, for a total transaction of $1,470,900.00. Following the transaction, the director now owns 9,006 shares in the company, valued at approximately $441,564.18. The disclosure for this sale can be found here. Insiders have sold 89,972 shares of company stock worth $4,493,892 in the last ninety days. Insiders own 0.66% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Capital International Investors lifted its position in shares of Trimble by 22.6% during the 1st quarter. Capital International Investors now owns 19,635,451 shares of the scientific and technical instruments company’s stock valued at $624,993,000 after buying an additional 3,620,770 shares in the last quarter. Nordea Investment Management AB increased its stake in Trimble by 112.2% during the second quarter. Nordea Investment Management AB now owns 4,015,104 shares of the scientific and technical instruments company’s stock worth $171,164,000 after acquiring an additional 2,122,972 shares during the last quarter. FMR LLC increased its stake in Trimble by 15.3% during the second quarter. FMR LLC now owns 6,802,721 shares of the scientific and technical instruments company’s stock worth $293,810,000 after acquiring an additional 901,337 shares during the last quarter. Invesco Ltd. increased its stake in Trimble by 16.2% during the first quarter. Invesco Ltd. now owns 1,901,699 shares of the scientific and technical instruments company’s stock worth $60,530,000 after acquiring an additional 265,521 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in Trimble by 23.3% during the first quarter. APG Asset Management N.V. now owns 1,075,030 shares of the scientific and technical instruments company’s stock worth $34,218,000 after acquiring an additional 203,400 shares during the last quarter. Institutional investors and hedge funds own 91.44% of the company’s stock.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to improve or transform their work processes worldwide. It operates through four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; applications for sub-contractors and trades; and an integrated workplace management software.

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