Trimble (NASDAQ:TRMB) Issues FY 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.790-2.870 for the period, compared to the consensus earnings per share 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 Stock Performance

Trimble stock traded up $0.62 during mid-day trading on Friday, reaching $72.76. 533,705 shares of the company’s stock were exchanged, compared to its average volume of 1,344,471. The business’s fifty day simple moving average is $60.14 and its 200 day simple moving average is $57.39. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. Trimble has a one year low of $40.79 and a one year high of $73.17. The firm has a market capitalization of $17.77 billion, a PE ratio of 11.96, a P/E/G ratio of 3.23 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts expect that Trimble will post 2.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird increased their price objective on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler lifted their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Trimble currently has an average rating of “Moderate Buy” and an average 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.