Trimble (NASDAQ:TRMB) Releases Q3 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.580-0.640 for the period, compared to the consensus earnings per share estimate of 0.620. The company issued revenue guidance of $840.0 million-$880.0 million, compared to the consensus revenue estimate of $871.1 million. Trimble also updated its FY 2024 guidance to 2.670-2.810 EPS.

Trimble Trading Up 0.2 %

NASDAQ:TRMB traded up $0.11 on Friday, reaching $51.65. The company’s stock had a trading volume of 1,285,115 shares, compared to its average volume of 1,388,422. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55. The stock has a 50 day moving average price of $55.21 and a 200 day moving average price of $57.54. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 2.34 and a beta of 1.50. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. Trimble’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Trimble will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on TRMB shares. Robert W. Baird boosted their target price on Trimble from $65.00 to $66.00 and gave the company an outperform rating in a research report on Thursday. Raymond James reiterated an outperform rating and issued a $65.00 price objective on shares of Trimble in a report on Wednesday, May 15th. StockNews.com upgraded Trimble from a hold rating to a buy rating in a report on Wednesday. Piper Sandler lowered shares of Trimble from a strong-buy rating to a hold rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Trimble from $65.00 to $58.00 and set a neutral rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Trimble currently has a consensus rating of Moderate Buy and an average price target of $65.33.

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.