Q3 2017 EPS Estimates for Trimble Navigation Ltd. (TRMB) Boosted by Analyst
Trimble Navigation Ltd. (NASDAQ:TRMB) – Analysts at Oppenheimer Holdings upped their Q3 2017 earnings estimates for shares of Trimble Navigation in a report issued on Wednesday. Oppenheimer Holdings analyst C. Rusch now expects that the scientific and technical instruments company will post earnings per share of $0.32 for the quarter, up from their previous forecast of $0.31. Oppenheimer Holdings has a “Outperform” rating and a $41.00 price objective on the stock.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Trimble Navigation from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, May 2nd. Dougherty & Co raised Trimble Navigation from a “neutral” rating to a “buy” rating in a research note on Friday, April 28th. Needham & Company LLC increased their price objective on Trimble Navigation from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Piper Jaffray Companies reissued a “buy” rating and set a $39.00 price objective on shares of Trimble Navigation in a research note on Wednesday, July 12th. Finally, Craig Hallum reissued a “hold” rating and set a $36.00 price objective (up previously from $30.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Trimble Navigation currently has an average rating of “Buy” and an average target price of $41.00.
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Trimble Navigation (TRMB) opened at 37.83 on Monday. The firm’s 50-day moving average is $36.91 and its 200 day moving average is $33.67. Trimble Navigation has a 12-month low of $25.30 and a 12-month high of $39.00. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 54.83 and a beta of 2.31.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.02. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The firm had revenue of $661.90 million for the quarter, compared to the consensus estimate of $643.05 million. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the stock. Twin Tree Management LP acquired a new position in shares of Trimble Navigation during the first quarter worth approximately $124,000. Acadian Asset Management LLC acquired a new position in shares of Trimble Navigation during the second quarter worth approximately $134,000. Huntington National Bank increased its position in shares of Trimble Navigation by 1.8% in the first quarter. Huntington National Bank now owns 4,552 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 82 shares in the last quarter. IFP Advisors Inc increased its position in shares of Trimble Navigation by 34.8% in the first quarter. IFP Advisors Inc now owns 4,760 shares of the scientific and technical instruments company’s stock worth $152,000 after buying an additional 1,228 shares in the last quarter. Finally, FNY Partners Fund LP increased its position in shares of Trimble Navigation by 71.4% in the first quarter. FNY Partners Fund LP now owns 4,800 shares of the scientific and technical instruments company’s stock worth $153,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 90.40% of the company’s stock.
In related news, Director Kaigham Gabriel sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $35.53, for a total transaction of $213,180.00. Following the completion of the transaction, the director now owns 10,670 shares in the company, valued at $379,105.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark S. Peek sold 11,717 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $36.35, for a total value of $425,912.95. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $1,090,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,263 shares of company stock valued at $5,094,328. 1.40% of the stock is owned by corporate insiders.
About Trimble Navigation
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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