Zacks: Brokerages Anticipate Trimble Inc (TRMB) Will Announce Quarterly Sales of $671.64 Million
Brokerages expect Trimble Inc (NASDAQ:TRMB) to post sales of $671.64 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Trimble’s earnings, with the highest sales estimate coming in at $676.82 million and the lowest estimate coming in at $670.00 million. Trimble reported sales of $585.50 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Trimble will report full-year sales of $671.64 million for the current year. For the next year, analysts expect that the firm will report sales of $2.86 billion per share, with estimates ranging from $2.79 billion to $2.90 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Trimble.
Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Trimble had a return on equity of 12.97% and a net margin of 7.66%. The firm had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Trimble’s revenue for the quarter was up 14.7% compared to the same quarter last year.
In other news, CEO Steven W. Berglund sold 200,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.45, for a total transaction of $8,090,000.00. Following the sale, the chief executive officer now directly owns 350,489 shares in the company, valued at approximately $14,177,280.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Darryl R. Matthews sold 1,094 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $40.51, for a total value of $44,317.94. Following the sale, the senior vice president now owns 4,475 shares in the company, valued at $181,282.25. The disclosure for this sale can be found here. Insiders have sold a total of 320,278 shares of company stock worth $12,969,243 over the last quarter. Insiders own 1.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in TRMB. Toronto Dominion Bank raised its position in shares of Trimble 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 purchasing an additional 357 shares during the period. Commonwealth Bank of Australia increased its position in Trimble 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 valued at $121,000 after acquiring an additional 500 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Trimble in the 3rd quarter valued at approximately $137,000. Howe & Rusling Inc. acquired a new stake in Trimble in the 3rd quarter valued at approximately $139,000. Finally, Advisor Group Inc. increased its position in Trimble by 3.7% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 89.68% of the company’s stock.
Shares of Trimble (TRMB) traded up $0.31 during midday trading on Friday, reaching $42.99. The company’s stock had a trading volume of 624,100 shares, compared to its average volume of 980,162. Trimble has a 12-month low of $28.61 and a 12-month high of $43.97. The firm has a market capitalization of $10,810.00, a PE ratio of 56.57, a P/E/G ratio of 2.62 and a beta of 2.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12.
Trimble announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
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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