Trimble Inc (TRMB) Expected to Announce Quarterly Sales of $718.44 Million
Brokerages predict that Trimble Inc (NASDAQ:TRMB) will report $718.44 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Trimble’s earnings, with estimates ranging from $712.26 million to $726.17 million. Trimble posted sales of $613.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17%. The business is expected to announce its next earnings results on Thursday, April 26th.
On average, analysts expect that Trimble will report full year sales of $718.44 million for the current year, with estimates ranging from $2.84 billion to $3.03 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.19 billion per share, with estimates ranging from $3.08 billion to $3.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Trimble.
Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $708.40 million during the quarter, compared to analysts’ expectations of $674.84 million. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS.
In related news, VP Jurgen Kliem sold 995 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $42.50, for a total value of $42,287.50. Following the completion of the transaction, the vice president now directly owns 18,175 shares in the company, valued at approximately $772,437.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark S. Peek sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,377,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,941 shares of company stock valued at $16,696,928. 1.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB grew its position in shares of Trimble by 16.9% in the 4th quarter. Xact Kapitalforvaltning AB now owns 23,933 shares of the scientific and technical instruments company’s stock valued at $973,000 after purchasing an additional 3,453 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Trimble by 46.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 141,798 shares of the scientific and technical instruments company’s stock valued at $5,763,000 after purchasing an additional 44,922 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Trimble by 63.5% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 12,100 shares of the scientific and technical instruments company’s stock valued at $492,000 after purchasing an additional 4,700 shares during the period. Sterling Capital Management LLC grew its position in shares of Trimble by 5.3% in the 4th quarter. Sterling Capital Management LLC now owns 349,272 shares of the scientific and technical instruments company’s stock valued at $14,194,000 after purchasing an additional 17,562 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Trimble in the 4th quarter valued at approximately $445,000. Institutional investors and hedge funds own 89.78% of the company’s stock.
Shares of Trimble (NASDAQ:TRMB) opened at $37.78 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.63 and a quick ratio of 1.29. The company has a market capitalization of $9,379.49, a PE ratio of 80.38, a PEG ratio of 2.24 and a beta of 2.41. Trimble has a 52 week low of $30.45 and a 52 week high of $45.70.
Trimble announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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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