Brokerages Expect Trimble Navigation Ltd. (TRMB) to Post $0.36 EPS
Wall Street brokerages expect that Trimble Navigation Ltd. (NASDAQ:TRMB) will report earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Trimble Navigation’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.38. Trimble Navigation posted earnings per share of $0.31 during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.1%. The business is expected to announce its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Trimble Navigation will report full-year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.48. For the next year, analysts forecast that the firm will report earnings of $1.68 per share, with EPS estimates ranging from $1.60 to $1.74. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Trimble Navigation.
Trimble Navigation (NASDAQ:TRMB) last posted its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $670.00 million during the quarter, compared to analyst estimates of $660.11 million. Trimble Navigation had a return on equity of 12.97% and a net margin of 7.66%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS.
A number of research firms have commented on TRMB. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Trimble Navigation in a report on Sunday, October 29th. Oppenheimer reaffirmed a “buy” rating on shares of Trimble Navigation in a report on Thursday, October 19th. Piper Jaffray Companies set a $43.00 price objective on Trimble Navigation and gave the stock a “buy” rating in a report on Friday, August 25th. Zacks Investment Research raised Trimble Navigation from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, October 31st. Finally, Morgan Stanley lifted their price objective on Trimble Navigation from $24.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.70.
Trimble Navigation (TRMB) traded up $0.34 during trading on Thursday, hitting $41.21. The company’s stock had a trading volume of 1,040,000 shares, compared to its average volume of 1,007,051. The company has a market cap of $10,375.07, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.89 and a beta of 2.35. Trimble Navigation has a twelve month low of $28.61 and a twelve month high of $43.97. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.
Trimble Navigation announced that its Board of Directors has approved a stock buyback program on Wednesday, November 15th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Jurgen Kliem sold 995 shares of Trimble Navigation stock in a transaction on Monday, December 4th. The stock was sold at an average price of $42.50, for a total transaction of $42,287.50. Following the transaction, the vice president now directly owns 18,175 shares in the company, valued at $772,437.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven W. Berglund sold 200,000 shares of Trimble Navigation 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 transaction, the chief executive officer now owns 350,489 shares in the company, valued at $14,177,280.05. The disclosure for this sale can be found here. Insiders sold 320,278 shares of company stock valued at $12,969,243 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its position in Trimble Navigation by 13.0% during the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 357 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Trimble Navigation by 17.2% during the second quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after purchasing an additional 500 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new position in Trimble Navigation during the third quarter valued at $137,000. Howe & Rusling Inc. purchased a new position in Trimble Navigation during the third quarter valued at $139,000. Finally, Acadian Asset Management LLC purchased a new position in Trimble Navigation during the second quarter valued at $134,000. Institutional investors own 89.74% of the company’s stock.
About Trimble Navigation
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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