Trimble (NASDAQ:TRMB) Updates FY 2022 Earnings Guidance

Trimble (NASDAQ:TRMBGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $2.71-$2.86 for the period, compared to the consensus earnings per share estimate of $2.89. The company issued revenue guidance of $3.80 billion-$3.88 billion, compared to the consensus revenue estimate of $4.02 billion.

A number of brokerages have recently commented on TRMB. JPMorgan Chase & Co. lowered their price objective on Trimble from $79.00 to $77.00 and set a neutral rating for the company in a research report on Monday, March 28th. Raymond James lowered their price target on Trimble from $95.00 to $90.00 and set an outperform rating for the company in a report on Thursday, February 10th. Morgan Stanley lowered their price target on Trimble from $76.00 to $70.00 and set an underweight rating for the company in a report on Tuesday, January 25th. Robert W. Baird lowered their price target on Trimble from $90.00 to $80.00 in a report on Friday, May 6th. Finally, William Blair reaffirmed an outperform rating on shares of Trimble in a report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $85.00.

NASDAQ TRMB traded down $0.56 on Monday, reaching $65.36. The stock had a trading volume of 14,669 shares, compared to its average volume of 1,415,437. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 1.26. Trimble has a 12-month low of $59.89 and a 12-month high of $96.49. The business’s 50-day moving average price is $68.50 and its 200 day moving average price is $75.48. The stock has a market cap of $16.35 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.53.

Trimble (NASDAQ:TRMBGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Trimble had a return on equity of 15.20% and a net margin of 12.97%. The company had revenue of $993.70 million during the quarter, compared to analysts’ expectations of $967.25 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that Trimble will post 2.41 earnings per share for the current year.

In other news, VP Ronald Bisio sold 2,660 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $65.98, for a total transaction of $175,506.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.43% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in TRMB. Baird Financial Group Inc. raised its position in Trimble by 13,579.6% in the first quarter. Baird Financial Group Inc. now owns 465,379 shares of the scientific and technical instruments company’s stock worth $33,572,000 after acquiring an additional 461,977 shares in the last quarter. Robeco Schweiz AG grew its stake in Trimble by 91.6% in the 1st quarter. Robeco Schweiz AG now owns 842,428 shares of the scientific and technical instruments company’s stock valued at $60,773,000 after acquiring an additional 402,852 shares during the last quarter. Renaissance Technologies LLC grew its stake in Trimble by 492.3% in the 1st quarter. Renaissance Technologies LLC now owns 468,144 shares of the scientific and technical instruments company’s stock valued at $33,772,000 after acquiring an additional 389,100 shares during the last quarter. Vanguard Group Inc. grew its stake in Trimble by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 27,575,624 shares of the scientific and technical instruments company’s stock valued at $1,989,305,000 after acquiring an additional 342,426 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Trimble by 16.3% in the 4th 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 acquiring an additional 233,801 shares during the last quarter. Hedge funds and other institutional investors 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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Earnings History and Estimates for Trimble (NASDAQ:TRMB)

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