Equities Analysts Offer Predictions for Trimble Inc.’s Q1 2023 Earnings (NASDAQ:TRMB)

Trimble Inc. (NASDAQ:TRMB – Get Rating) – Investment analysts at Oppenheimer issued their Q1 2023 earnings estimates for Trimble in a research report issued on Tuesday, January 24th. Oppenheimer analyst K. Owen expects that the scientific and technical instruments company will earn $0.65 per share for the quarter. The consensus estimate for Trimble’s current full-year earnings is $2.25 per share. Oppenheimer also issued estimates for Trimble’s Q2 2023 earnings at $0.64 EPS, Q3 2023 earnings at $0.61 EPS, Q4 2023 earnings at $0.57 EPS and FY2024 earnings at $2.65 EPS.

Several other equities research analysts have also recently issued reports on TRMB. TheStreet cut shares of Trimble from a “b-” rating to a “c+” rating in a report 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 report on Thursday, November 3rd. Raymond James cut shares of Trimble from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 13th. Morgan Stanley lifted their price target on shares of Trimble from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Trimble from $64.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.17.

Trimble Trading Down 1.0 %

Shares of TRMB stock opened at $56.28 on Wednesday. Trimble has a 12-month low of $47.52 and a 12-month high of $74.87. The company has a current ratio of 0.99, a quick ratio of 0.72 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $54.45 and its 200 day moving average is $58.72. The stock has a market capitalization of $13.88 billion, a P/E ratio of 29.62, a P/E/G ratio of 1.79 and a beta of 1.57.

Trimble (NASDAQ:TRMB – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The scientific and technical instruments company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Trimble had a net margin of 12.80% and a return on equity of 14.45%. The firm had revenue of $884.90 million for the quarter, compared to analysts’ expectations of $910.81 million.

Institutional Trading of Trimble

Several institutional investors and hedge funds have recently modified their holdings of TRMB. Vanguard Group Inc. increased its holdings in Trimble by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 27,575,624 shares of the scientific and technical instruments company’s stock valued at $1,989,305,000 after acquiring an additional 342,426 shares during the last quarter. State Street Corp increased its holdings in Trimble by 0.4% in the 3rd quarter. State Street Corp now owns 9,961,247 shares of the scientific and technical instruments company’s stock valued at $540,597,000 after acquiring an additional 40,607 shares during the last quarter. Impax Asset Management Group plc increased its holdings in Trimble by 2.5% in the 3rd quarter. Impax Asset Management Group plc now owns 9,485,529 shares of the scientific and technical instruments company’s stock valued at $514,041,000 after acquiring an additional 229,255 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Trimble by 2.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,494,627 shares of the scientific and technical instruments company’s stock valued at $243,923,000 after acquiring an additional 118,318 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Trimble by 0.6% in the 3rd quarter. King Luther Capital Management Corp now owns 4,083,486 shares of the scientific and technical instruments company’s stock valued at $221,611,000 after acquiring an additional 25,718 shares during the last quarter. 89.49% of the stock is currently owned by institutional investors.

About Trimble

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Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.