Trimble (NASDAQ:TRMB) Releases FY 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.600-2.800 for the period, compared to the consensus estimate of 2.730. 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 FY24 guidance to $2.60-2.80 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler reissued an overweight rating and set a $73.00 target price on shares of Trimble in a research note on Monday, April 15th. StockNews.com lowered shares of Trimble from a buy rating to a hold rating in a research note on Saturday, February 10th. Oppenheimer raised their price target on shares of Trimble from $65.00 to $72.00 and gave the company an outperform rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. raised 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. Finally, Robert W. Baird raised their price target on shares of Trimble from $59.00 to $65.00 and gave the company an outperform rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Trimble currently has a consensus rating of Moderate Buy and a consensus price target of $66.67.

Trimble Price Performance

TRMB traded down $4.16 during trading on Friday, reaching $55.93. The company’s stock had a trading volume of 3,314,677 shares, compared to its average volume of 1,396,192. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $61.66 and a two-hundred day simple moving average of $53.74. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 2.63 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last released 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 net margin of 8.19% and a return on equity of 12.59%. The business had revenue of $932.40 million for the quarter, compared to analyst estimates of $908.43 million. During the same period last year, the company posted $0.52 EPS. The business’s revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Trimble will post 2.23 EPS for the current year.

Insider Transactions at Trimble

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the transaction, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Trimble news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares of the company’s stock, valued at $11,771,371.15. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock worth $1,013,519 in the last 90 days. Insiders own 0.47% of the company’s stock.

About Trimble

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.