Trimble (NASDAQ:TRMB) Updates Q4 2024 Earnings Guidance

Trimble (NASDAQ:TRMB) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.830-0.910 for the period, compared to the consensus EPS estimate of 0.880. The company issued revenue guidance of $925.0 million-$965.0 million, compared to the consensus revenue estimate of $942.8 million. Trimble also updated its FY 2024 guidance to 2.790-2.870 EPS.

Trimble Price Performance

TRMB traded up $0.41 on Friday, hitting $72.55. 462,798 shares of the company’s stock traded hands, compared to its average volume of 1,344,285. The company’s 50 day simple moving average is $60.14 and its 200-day simple moving average is $57.39. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 3.23 and a beta of 1.49. Trimble has a one year low of $40.79 and a one year high of $73.17. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The firm had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, research analysts anticipate that Trimble will post 2.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRMB. Piper Sandler boosted their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

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.