Trimble (NASDAQ:TRMB) Releases 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 Price Performance

Shares of TRMB traded up $0.25 during trading hours on Friday, reaching $72.39. 485,215 shares of the company’s stock traded hands, compared to its average volume of 1,344,389. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The firm’s 50 day simple moving average is $60.14 and its 200-day simple moving average is $57.39. The stock has a market cap of $17.68 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. Trimble has a 12 month low of $40.79 and a 12 month high of $73.17.

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

Analyst Ratings Changes

TRMB has been the topic of a number of research analyst reports. Piper Sandler increased their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

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.