Brokerages Expect Trimble Inc (TRMB) Will Post Quarterly Sales of $671.64 Million

Wall Street analysts expect that Trimble Inc (NASDAQ:TRMB) will post sales of $671.64 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Trimble’s earnings, with estimates ranging from $670.00 million to $676.82 million. Trimble posted sales of $585.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The business is expected to announce its next earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that Trimble will report full year sales of $671.64 million for the current financial year. For the next financial year, analysts forecast that the company will post sales of $2.86 billion per share, with estimates ranging from $2.79 billion to $2.90 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Trimble.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $670.00 million for the quarter, compared to the consensus estimate of $660.11 million. Trimble had a net margin of 7.66% and a return on equity of 12.97%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share.

Several research analysts have commented on TRMB shares. Zacks Investment Research downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Wells Fargo & Co lifted their price target on shares of Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target (up from $42.00) on shares of Trimble in a research note on Sunday, October 29th. BidaskClub downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, Oppenheimer lifted their price target on shares of Trimble from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Trimble currently has an average rating of “Hold” and a consensus target price of $41.70.

Trimble (NASDAQ:TRMB) traded up $0.03 during mid-day trading on Tuesday, hitting $40.51. 400,800 shares of the company’s stock traded hands, compared to its average volume of 998,634. The stock has a market capitalization of $10,198.85, a P/E ratio of 53.30, a PEG ratio of 2.84 and a beta of 2.35. Trimble has a 52-week low of $28.61 and a 52-week high of $43.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12.

Trimble declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, CEO Steven W. Berglund sold 200,000 shares of Trimble stock in a transaction on Monday, October 30th. The shares were sold at an average price of $40.45, for a total value of $8,090,000.00. Following the sale, the chief executive officer now owns 350,489 shares in the company, valued at $14,177,280.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Darryl R. Matthews sold 1,605 shares of Trimble stock in a transaction on Monday, November 13th. The shares were sold at an average price of $39.95, for a total transaction of $64,119.75. Following the completion of the sale, the senior vice president now owns 6,219 shares in the company, valued at approximately $248,449.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 320,278 shares of company stock worth $12,969,243. 1.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Trimble by 0.8% in the second quarter. BlackRock Inc. now owns 22,763,354 shares of the scientific and technical instruments company’s stock valued at $811,967,000 after acquiring an additional 185,717 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Trimble by 4.2% in the second quarter. Vanguard Group Inc. now owns 21,314,854 shares of the scientific and technical instruments company’s stock valued at $760,302,000 after acquiring an additional 849,914 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Trimble by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 8,243,002 shares of the scientific and technical instruments company’s stock valued at $323,537,000 after acquiring an additional 33,278 shares in the last quarter. State Street Corp boosted its holdings in Trimble by 0.4% in the second quarter. State Street Corp now owns 8,192,632 shares of the scientific and technical instruments company’s stock valued at $292,228,000 after acquiring an additional 35,154 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Trimble by 0.5% in the third quarter. Capital International Investors now owns 8,068,056 shares of the scientific and technical instruments company’s stock valued at $316,671,000 after acquiring an additional 38,431 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

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Trimble Company Profile

Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.

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