Trimble Navigation Ltd. (TRMB) Expected to Post Quarterly Sales of $659.57 Million
Equities analysts expect Trimble Navigation Ltd. (NASDAQ:TRMB) to post $659.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Trimble Navigation’s earnings, with the highest sales estimate coming in at $662.32 million and the lowest estimate coming in at $656.60 million. Trimble Navigation posted sales of $584.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.9%. The business is scheduled to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Trimble Navigation will report full year sales of $659.57 million for the current financial year, with estimates ranging from $2.56 billion to $2.60 billion. For the next financial year, analysts expect that the company will post sales of $2.80 billion per share, with estimates ranging from $2.74 billion to $2.88 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Trimble Navigation.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). The company had revenue of $661.90 million during the quarter, compared to the consensus estimate of $643.05 million. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. Trimble Navigation’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share.
A number of equities research analysts recently issued reports on TRMB shares. Zacks Investment Research cut Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 price objective on shares of Trimble Navigation in a research note on Wednesday, July 12th. Dougherty & Co boosted their price objective on Trimble Navigation from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub cut Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Craig Hallum restated a “hold” rating and issued a $36.00 price objective (up from $30.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.11.
Trimble Navigation (TRMB) opened at 40.59 on Thursday. The company’s 50-day moving average is $39.40 and its 200-day moving average is $36.45. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 58.83 and a beta of 2.30. Trimble Navigation has a 52-week low of $25.30 and a 52-week high of $40.87.
In other news, SVP Darryl R. Matthews sold 3,714 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total transaction of $143,583.24. Following the sale, the senior vice president now directly owns 2,000 shares in the company, valued at $77,320. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Chris Gibson sold 76,715 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $38.02, for a total value of $2,916,704.30. Following the sale, the vice president now owns 38,419 shares in the company, valued at $1,460,690.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,688 shares of company stock worth $9,616,521. Company insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of Trimble Navigation by 13.0% during the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 357 shares during the period. Commonwealth Bank of Australia increased its position in shares of Trimble Navigation by 17.2% during the second quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after buying an additional 500 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Trimble Navigation during the second quarter valued at about $134,000. Advisor Group Inc. increased its position in shares of Trimble Navigation by 3.7% during the second quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 144 shares during the period. Finally, FNY Partners Fund LP increased its position in shares of Trimble Navigation by 71.4% during the first quarter. FNY Partners Fund LP now owns 4,800 shares of the scientific and technical instruments company’s stock valued at $153,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 89.85% of the company’s stock.
Trimble Navigation Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Trimble Navigation Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble Navigation Ltd. and related stocks with our FREE daily email newsletter.