Trimble (NASDAQ:TRMB) Updates FY 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRMB. Robert W. Baird boosted their price objective on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday. Oppenheimer restated an “outperform” rating and set a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Trimble has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Price Performance

TRMB opened at $72.65 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 1.16. Trimble has a 1-year low of $40.79 and a 1-year high of $73.17. The company has a 50-day moving average of $60.46 and a 200-day moving average of $57.49. The company has a market capitalization of $17.74 billion, a P/E ratio of 12.15, a PEG ratio of 3.23 and a beta of 1.49.

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

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.