Trimble (NASDAQ:TRMB) Issues FY22 Earnings Guidance

Trimble (NASDAQ:TRMB – Get Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $2.71-2.86 for the period, compared to the consensus EPS estimate of $2.88. The company issued revenue guidance of $3.80-3.88 billion, compared to the consensus revenue estimate of $4.02 billion.

NASDAQ TRMB opened at $63.27 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.22 and a quick ratio of 0.91. Trimble has a 1 year low of $62.00 and a 1 year high of $96.49. The company has a market capitalization of $15.84 billion, a PE ratio of 32.61, a P/E/G ratio of 2.18 and a beta of 1.53. The company has a fifty day moving average of $69.06 and a two-hundred day moving average of $76.64.

Trimble (NASDAQ:TRMB – Get Rating) last announced its earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.16. Trimble had a net margin of 13.47% and a return on equity of 15.08%. The business had revenue of $993.70 million during the quarter, compared to the consensus estimate of $967.25 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that Trimble will post 2.43 earnings per share for the current year.

Several equities research analysts have recently weighed in on TRMB shares. Robert W. Baird decreased their target price on shares of Trimble from $90.00 to $80.00 in a research note on Friday. StockNews.com initiated coverage on shares of Trimble in a report on Thursday, March 31st. They set a buy rating for the company. Raymond James cut their price target on shares of Trimble from $95.00 to $90.00 and set an outperform rating for the company in a report on Thursday, February 10th. JPMorgan Chase & Co. cut their price target on shares of Trimble from $79.00 to $77.00 and set a neutral rating for the company in a report on Monday, March 28th. Finally, Morgan Stanley cut their price target on shares of Trimble from $76.00 to $70.00 and set an underweight rating for the company in a report on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $85.00.

In other Trimble news, VP Ronald Bisio sold 2,660 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $65.98, for a total value of $175,506.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra Macquillan sold 10,500 shares of the stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $66.44, for a total transaction of $697,620.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP acquired a new stake in shares of Trimble in the fourth quarter valued at approximately $231,000. Allianz Asset Management GmbH grew its position in shares of Trimble by 16.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,665,606 shares of the scientific and technical instruments company’s stock valued at $145,250,000 after purchasing an additional 233,801 shares during the last quarter. Deutsche Bank AG grew its position in shares of Trimble by 9.6% in the fourth quarter. Deutsche Bank AG now owns 1,015,996 shares of the scientific and technical instruments company’s stock valued at $88,584,000 after purchasing an additional 89,018 shares during the last quarter. California State Teachers Retirement System boosted its position in Trimble by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 446,315 shares of the scientific and technical instruments company’s stock worth $38,914,000 after acquiring an additional 8,431 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Trimble by 5.7% during the fourth quarter. Parametric Portfolio Associates LLC now owns 701,641 shares of the scientific and technical instruments company’s stock worth $61,176,000 after acquiring an additional 37,704 shares during the last quarter. Institutional investors and hedge funds own 91.47% of the company’s stock.

About Trimble (Get Rating)

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 route selection and design; 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.

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