Zacks: Brokerages Expect Trimble Navigation Ltd. (TRMB) Will Post Quarterly Sales of $646.60 Million
Wall Street brokerages predict that Trimble Navigation Ltd. (NASDAQ:TRMB) will post $646.60 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Trimble Navigation’s earnings. The highest sales estimate is $665.00 million and the lowest is $620.55 million. Trimble Navigation reported sales of $585.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The firm is expected to issue its next earnings results on Wednesday, February 14th.
On average, analysts expect that Trimble Navigation will report full year sales of $646.60 million for the current financial year, with estimates ranging from $2.56 billion to $2.60 billion. For the next financial 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 Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Trimble Navigation.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analyst estimates of $660.11 million. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. Trimble Navigation’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS.
Several brokerages have recently commented on TRMB. Needham & Company LLC reiterated 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. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Trimble Navigation in a report on Thursday, October 19th. Piper Jaffray Companies set a $43.00 target price on shares of Trimble Navigation and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Trimble Navigation from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a report on Monday, August 7th. Finally, Morgan Stanley increased their target price on shares of Trimble Navigation from $24.00 to $38.00 and gave the company 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 assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.40.
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In related news, SVP Darryl R. Matthews sold 3,714 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $38.66, for a total transaction of $143,583.24. Following the completion of the sale, the senior vice president now owns 2,000 shares in the company, valued at $77,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chris Gibson sold 76,715 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $38.02, for a total transaction of $2,916,704.30. Following the sale, the vice president now owns 38,419 shares of the company’s stock, valued at approximately $1,460,690.38. The disclosure for this sale can be found here. Insiders have sold 252,688 shares of company stock valued at $9,616,521 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning increased its stake in shares of Trimble Navigation by 0.3% in the second quarter. Creative Planning now owns 17,392 shares of the scientific and technical instruments company’s stock worth $620,000 after purchasing an additional 51 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Trimble Navigation by 3.7% in the second 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. Nordea Investment Management AB increased its stake in shares of Trimble Navigation by 2.4% in the second quarter. Nordea Investment Management AB now owns 9,588 shares of the scientific and technical instruments company’s stock worth $342,000 after purchasing an additional 226 shares in the last quarter. Symphony Asset Management LLC increased its stake in shares of Trimble Navigation by 0.6% in the second quarter. Symphony Asset Management LLC now owns 48,938 shares of the scientific and technical instruments company’s stock worth $1,746,000 after purchasing an additional 295 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in shares of Trimble Navigation by 1.6% in the second quarter. Chartwell Investment Partners LLC now owns 20,318 shares of the scientific and technical instruments company’s stock worth $725,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 89.99% of the company’s stock.
Trimble Navigation (TRMB) opened at 40.76 on Tuesday. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 59.07 and a beta of 2.30. The stock’s 50 day moving average is $40.35 and its 200 day moving average is $37.40. Trimble Navigation has a 1-year low of $25.30 and a 1-year high of $43.97.
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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