Trimble (NASDAQ:TRMB) Issues Earnings Results

Trimble (NASDAQ:TRMB - Get Free Report) posted its earnings results on Wednesday. The scientific and technical instruments company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15), Zacks reports. The business had revenue of $983.40 million for the quarter, compared to analyst estimates of $944.36 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share.

Trimble Stock Down 2.4 %

Shares of TRMB stock traded down $1.74 during trading hours on Friday, hitting $71.47. 1,852,430 shares of the company were exchanged, compared to its average volume of 1,323,335. The business has a 50 day moving average of $73.30 and a two-hundred day moving average of $66.28. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a market capitalization of $17.57 billion, a PE ratio of 11.74, a PEG ratio of 3.09 and a beta of 1.53.

Insider Transactions at Trimble

In related news, VP Jennifer Allison sold 3,571 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares of the company's stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TRMB shares. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Wolfe Research raised Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price target on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a report on Thursday. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $86.00.

About Trimble

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.