Trimble Navigation Ltd. (NASDAQ:TRMB) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.34-0.38 for the period, compared to the Thomson Reuters consensus estimate of $0.36. The company issued revenue guidance of $645-675 million, compared to the consensus revenue estimate of $623.22 million.
Shares of Trimble Navigation Ltd. (TRMB) opened at 36.48 on Friday. Trimble Navigation Ltd. has a 12 month low of $25.30 and a 12 month high of $39.45. The company’s 50-day moving average is $37.06 and its 200 day moving average is $34.00. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 52.87 and a beta of 2.31.
Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The business had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. During the same period in the prior 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. On average, equities research analysts anticipate that Trimble Navigation Ltd. will post $1.43 earnings per share for the current year.
A number of equities research analysts have recently commented on TRMB shares. Craig Hallum raised their price objective on shares of Trimble Navigation from $24.00 to $30.00 and gave the stock a hold rating in a research note on Friday, April 28th. Needham & Company LLC raised their price objective on shares of Trimble Navigation from $33.00 to $37.00 and gave the stock a buy rating in a research note on Friday, April 28th. Dougherty & Co raised shares of Trimble Navigation from a neutral rating to a buy rating in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. raised their price objective on shares of Trimble Navigation from $34.00 to $38.00 and gave the stock an outperform rating in a research note on Monday, May 1st. Finally, Zacks Investment Research raised shares of Trimble Navigation from a hold rating to a buy rating and set a $40.00 price objective on the stock in a research note on Tuesday, May 2nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Trimble Navigation presently has an average rating of Buy and an average price target of $41.00.
In related news, Director Merit E. Janow sold 33,334 shares of Trimble Navigation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $37.76, for a total value of $1,258,691.84. Following the sale, the director now owns 26,004 shares of the company’s stock, valued at approximately $981,911.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James A. Kirkland sold 10,000 shares of Trimble Navigation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $37.60, for a total transaction of $376,000.00. Following the completion of the sale, the vice president now directly owns 31,781 shares in the company, valued at approximately $1,194,965.60. The disclosure for this sale can be found here. Insiders sold a total of 110,061 shares of company stock worth $4,032,293 in the last three months. 1.40% of the stock is owned by corporate insiders.
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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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