Trimble (NASDAQ:TRMB) Releases Q2 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its second quarter earnings guidance on Friday. The company provided EPS guidance of $0.56-0.60 for the period, compared to the consensus EPS 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 Stock Down 6.9 %

TRMB stock traded down $4.16 during trading on Friday, reaching $55.93. 3,314,677 shares of the stock were exchanged, compared to its average volume of 1,396,192. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55. The firm’s 50 day moving average is $61.66 and its 200 day moving average is $53.74. The firm has a market cap of $13.66 billion, a P/E ratio of 44.98, a price-to-earnings-growth ratio of 2.63 and a beta of 1.51.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TRMB shares. Oppenheimer lifted their price objective on Trimble from $65.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, March 14th. Piper Sandler reiterated an overweight rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $57.00 to $67.00 and gave the company a neutral rating in a research note on Wednesday. StockNews.com downgraded shares of Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. Finally, Robert W. Baird boosted their target price on shares of Trimble from $59.00 to $65.00 and gave the company an outperform rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trimble currently has a consensus rating of Moderate Buy and a consensus target price of $66.67.

Insider Buying and Selling at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the sale, the senior vice president now owns 8,220 shares in the company, valued at approximately $485,802. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 2,500 shares of the company’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 completion of the transaction, the chief executive officer now owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 16,828 shares of company stock valued at $1,013,519 in the last three months. Company insiders own 0.47% of the company’s stock.

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.