Zacks: Brokerages Expect Trimble Navigation Ltd. (TRMB) Will Announce Quarterly Sales of $659.57 Million
Analysts predict that Trimble Navigation Ltd. (NASDAQ:TRMB) will announce sales of $659.57 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Trimble Navigation’s earnings, with the highest sales estimate coming in at $662.32 million and the lowest estimate coming in at $656.60 million. Trimble Navigation reported sales of $584.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Trimble Navigation will report full-year sales of $659.57 million for the current financial year, with estimates ranging from $2.56 billion to $2.60 billion. For the next year, analysts expect that the company will post sales of $2.80 billion per share, with estimates ranging from $2.74 billion to $2.88 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Trimble Navigation.
Trimble Navigation (NASDAQ:TRMB) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The business had revenue of $661.90 million during the quarter, compared to analyst estimates of $643.05 million. During the same quarter last year, the business posted $0.29 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year.
TRMB has been the subject of several recent analyst reports. Zacks Investment Research downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $39.00 price objective (up from $38.00) on shares of Trimble Navigation in a research report on Tuesday, June 13th. Piper Jaffray Companies restated a “buy” rating and set a $39.00 price objective on shares of Trimble Navigation in a research report on Wednesday, July 12th. Dougherty & Co upped their price objective on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, BidaskClub downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.11.
Shares of Trimble Navigation (TRMB) opened at 39.76 on Friday. Trimble Navigation has a 52 week low of $25.30 and a 52 week high of $40.30. The stock has a 50 day moving average price of $38.19 and a 200-day moving average price of $35.51. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 57.62 and a beta of 2.28.
In other Trimble Navigation news, SVP Darryl R. Matthews sold 3,714 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the completion of the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at approximately $77,320. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James A. Kirkland sold 7,183 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $37.41, for a total value of $268,716.03. Following the completion of the transaction, the vice president now directly owns 14,598 shares of the company’s stock, valued at approximately $546,111.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,688 shares of company stock valued at $9,616,521. Insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of TRMB. Toronto Dominion Bank increased its holdings in Trimble Navigation by 13.0% in the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 357 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Trimble Navigation by 17.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock worth $121,000 after purchasing an additional 500 shares in the last quarter. Twin Tree Management LP acquired a new position in Trimble Navigation in the 1st quarter worth about $124,000. Acadian Asset Management LLC acquired a new position in Trimble Navigation in the 2nd quarter worth about $134,000. Finally, Advisor Group Inc. increased its holdings in Trimble Navigation by 3.7% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 144 shares in the last quarter. 89.85% of the stock is owned by institutional investors and hedge funds.
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Trimble Navigation Company Profile
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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