Trimble (TRMB) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Trimble (TRMB) reported earnings 30 days ago. What's next for the stock?
Trimble's strategic shift towards software-driven models and double-digit ARR growth supports a 'Buy' rating with a one-year target price of $86 per share. Divestiture of non-core businesses, including a $2 billion joint venture sale to AGCO, enables Trimble to focus on high-growth areas and unlock value. Projected organic revenue growth of 8% and ARR growth of 11%-13% in FY24, driven by strong performance in Buildings and Infrastructure, Geospatial, and other segments.
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Does Trimble Navigation (TRMB) have what it takes to be a top stock pick for momentum investors? Let's find out.
Trimble's third-quarter 2024 results benefit from strong subscription and services revenues, backed by robust guidance for continued growth.
Trimble Inc. (NASDAQ:TRMB ) Q3 2024 Earnings Conference Call November 6, 2024 8:00 AM ET Company Participants Rob Painter - President & Chief Executive Officer Phil Sawarynski - Chief Financial Officer Conference Call Participants Kristen Owen - Oppenheimer Jerry Revich - Goldman Sachs Rob Wertheimer - Melius Research Jerry Revich - Goldman Sachs Jason Celino - KeyBanc Capital Markets Tami Zakaria - JPMorgan Clarke Jeffries - Piper Sandler Chad Dillard - Bernstein Arsenije Matovic - Wolfe Research Operator Thank you for standing by. My name is Novi [ph] and I will be your conference operator today.
While the top- and bottom-line numbers for Trimble (TRMB) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Trimble on Wednesday raised its full-year earnings forecast for the second time this year, after higher revenue from its subscriptions and software services helped the GPS navigation maker beat estimates for the third quarter.
Trimble Navigation (TRMB) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.68 per share a year ago.
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