Trimble (NASDAQ:TRMB) Updates Q2 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.56-0.60 for the period, compared to the consensus earnings per share estimate of $0.61. The company issued revenue guidance of $845-875 million, compared to the consensus revenue estimate of $881.00 million. Trimble also updated its FY 2024 guidance to 2.600-2.800 EPS.

Trimble Price Performance

TRMB traded down $4.16 during trading on Friday, hitting $55.93. The company’s stock had a trading volume of 3,314,677 shares, compared to its average volume of 1,396,192. The firm’s 50 day moving average price is $61.66 and its two-hundred day moving average price is $53.74. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 2.63 and a beta of 1.51. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55.

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

Analyst Ratings Changes

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

Insider Transactions at Trimble

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

Trimble Company Profile

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.