Brokers Set Expectations for Trimble Navigation Ltd.’s FY2017 Earnings (TRMB)
Trimble Navigation Ltd. (NASDAQ:TRMB) – Equities research analysts at Northcoast Research lifted their FY2017 earnings estimates for Trimble Navigation in a research note issued on Monday. Northcoast Research analyst T. Hayes now expects that the scientific and technical instruments company will earn $1.30 per share for the year, up from their previous estimate of $1.25. Northcoast Research also issued estimates for Trimble Navigation’s Q4 2017 earnings at $0.31 EPS.
Trimble Navigation (NASDAQ:TRMB) last announced its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. The business had revenue of $670.00 million for the quarter, compared to analyst estimates of $660.11 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Trimble Navigation’s revenue was up 14.7% compared to the same quarter last year.
TRMB has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target (up previously from $42.00) on shares of Trimble Navigation in a report on Sunday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Trimble Navigation in a report on Thursday, October 19th. Piper Jaffray Companies set a $43.00 price target on Trimble Navigation and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research raised Trimble Navigation from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a report on Monday, August 7th. Finally, Morgan Stanley raised their price target on 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 given a buy rating to the company’s stock. Trimble Navigation currently has an average rating of “Buy” and a consensus price target of $41.70.
In other Trimble Navigation news, VP James A. Kirkland sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $37.60, for a total transaction of $376,000.00. Following the transaction, the vice president now owns 31,781 shares in the company, valued at approximately $1,194,965.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven W. Berglund sold 200,000 shares of the stock in a transaction on Monday, October 30th. The stock was 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 approximately $14,177,280.05. The disclosure for this sale can be found here. Insiders have sold a total of 507,688 shares of company stock worth $19,913,671 in the last quarter. Company insiders own 1.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TRMB. Toronto Dominion Bank increased its position in Trimble Navigation by 13.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 357 shares during the period. Commonwealth Bank of Australia increased its position in Trimble Navigation by 17.2% during 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 buying an additional 500 shares during the period. Acadian Asset Management LLC bought a new position in Trimble Navigation during the 2nd quarter worth $134,000. Howe & Rusling Inc. bought a new position in Trimble Navigation during the 3rd quarter worth $139,000. Finally, Advisor Group Inc. increased its position in Trimble Navigation by 3.7% during the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 89.99% 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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