Q4 2022 EPS Estimates for Trimble Inc. (NASDAQ:TRMB) Reduced by Analyst

Trimble Inc. (NASDAQ:TRMBGet Rating) – Stock analysts at KeyCorp decreased their Q4 2022 EPS estimates for shares of Trimble in a research report issued to clients and investors on Wednesday, November 2nd. KeyCorp analyst J. Celino now expects that the scientific and technical instruments company will post earnings per share of $0.52 for the quarter, down from their previous forecast of $0.64. The consensus estimate for Trimble’s current full-year earnings is $2.26 per share. KeyCorp also issued estimates for Trimble’s Q1 2023 earnings at $0.76 EPS, Q2 2023 earnings at $0.66 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.52 EPS and FY2023 earnings at $2.50 EPS.

Several other research firms have also commented on TRMB. TheStreet lowered shares of Trimble from a “b-” rating to a “c+” rating in a research note on Tuesday, October 11th. Piper Sandler dropped their target price on shares of Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday. Oppenheimer dropped their target price on shares of Trimble from $86.00 to $72.00 in a research note on Thursday. Morgan Stanley dropped their target price on shares of Trimble from $67.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Trimble currently has an average rating of “Hold” and an average target price of $68.83.

Trimble Price Performance

TRMB stock opened at $53.79 on Monday. The firm’s 50-day moving average price is $57.81 and its two-hundred day moving average price is $62.30. Trimble has a 12-month low of $49.99 and a 12-month high of $90.19. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.75 and a beta of 1.57. The company has a current ratio of 0.99, a quick ratio of 0.76 and a debt-to-equity ratio of 0.32.

Trimble (NASDAQ:TRMBGet Rating) last issued its earnings results on Friday, August 5th. The scientific and technical instruments company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. Trimble had a net margin of 12.80% and a return on equity of 14.45%. The company had revenue of $941.20 million for the quarter, compared to analysts’ expectations of $928.99 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue was down .4% compared to the same quarter last year.

Insider Activity

In other Trimble news, SVP James A. Kirkland sold 5,412 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $71.53, for a total transaction of $387,120.36. Following the completion of the sale, the senior vice president now directly owns 65,132 shares of the company’s stock, valued at $4,658,891.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Peter Large sold 2,188 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $71.32, for a total value of $156,048.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James A. Kirkland sold 5,412 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $71.53, for a total transaction of $387,120.36. Following the completion of the sale, the senior vice president now directly owns 65,132 shares of the company’s stock, valued at $4,658,891.96. The disclosure for this sale can be found here. Insiders sold 11,600 shares of company stock valued at $828,369 over the last three months. Insiders own 0.43% of the company’s stock.

Institutional Trading of Trimble

A number of hedge funds and other institutional investors have recently modified their holdings of TRMB. Vontobel Holding Ltd. raised its stake in shares of Trimble by 2.5% in the third quarter. Vontobel Holding Ltd. now owns 629,651 shares of the scientific and technical instruments company’s stock valued at $34,794,000 after acquiring an additional 15,089 shares during the period. AIA Group Ltd increased its stake in Trimble by 38.1% in the 3rd quarter. AIA Group Ltd now owns 11,360 shares of the scientific and technical instruments company’s stock worth $617,000 after buying an additional 3,133 shares during the period. Empirical Finance LLC purchased a new position in Trimble in the 3rd quarter worth about $212,000. Southeast Asset Advisors Inc. increased its stake in Trimble by 1.2% in the 3rd quarter. Southeast Asset Advisors Inc. now owns 31,887 shares of the scientific and technical instruments company’s stock worth $1,731,000 after buying an additional 384 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Trimble by 23.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 207,202 shares of the scientific and technical instruments company’s stock worth $11,265,000 after buying an additional 39,835 shares during the period. 90.19% of the stock is owned by hedge funds and other institutional investors.

Trimble Company Profile

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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.

Further Reading

Earnings History and Estimates for Trimble (NASDAQ:TRMB)

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