Media stories about Trimble (NASDAQ:TRMB) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Trimble earned a news impact score of 0.16 on Accern’s scale. Accern also assigned press coverage about the scientific and technical instruments company an impact score of 46.4038075543681 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the media headlines that may have impacted Accern Sentiment’s rankings:
- Trimble Inc. (NasdaqGS:TRMB): Investors Poring into The Details on the Shares as EV Hits 11010360 – Clawson News (clawsonnews.com)
- What is ATR in technical analysis? Trimble Inc. (TRMB) – Wall Street Morning (wallstreetmorning.com)
- Comparing Trimble (TRMB) & Tableau Software (DATA) (americanbankingnews.com)
- Trimble (TRMB) Upgraded at Zacks Investment Research (americanbankingnews.com)
- Brokerages Expect Trimble Inc (TRMB) Will Post Quarterly Sales of $671.64 Million (americanbankingnews.com)
Several research firms have weighed in on TRMB. Piper Jaffray Companies set a $43.00 price target on Trimble and gave the company a “buy” rating in a report on Sunday, October 1st. Zacks Investment Research cut Trimble from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. BidaskClub cut Trimble from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Robert W. Baird raised their price target on Trimble from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, September 22nd. Finally, Oppenheimer raised their price target on Trimble from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Trimble currently has an average rating of “Buy” and a consensus price target of $41.60.
Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. Trimble had a return on equity of 12.97% and a net margin of 7.66%. Trimble’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. sell-side analysts anticipate that Trimble will post 1.27 earnings per share for the current fiscal year.
Trimble declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 15th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CEO Steven W. Berglund sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.45, for a total transaction of $8,090,000.00. Following the transaction, the chief executive officer now directly owns 350,489 shares in the company, valued at approximately $14,177,280.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald S. Nersesian sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.13, for a total value of $2,207,150.00. Following the transaction, the director now owns 46,820 shares in the company, valued at $1,878,886.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,278 shares of company stock worth $12,969,243. 1.40% of the stock is currently owned by insiders.
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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