Trimble (NASDAQ:TRMB) Issues Earnings Results

Trimble (NASDAQ:TRMB) released its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04, Briefing.com reports. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period in the prior year, the company posted $0.51 earnings per share. Trimble’s revenue was down 12.4% compared to the same quarter last year.

Trimble Price Performance

TRMB stock opened at $51.53 on Wednesday. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 53.68, a P/E/G ratio of 2.31 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. The company has a 50 day simple moving average of $55.39 and a 200 day simple moving average of $57.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Monday, May 6th. Raymond James reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Trimble in a research note on Wednesday, May 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research report on Monday, May 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.67.

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.