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Trimble Inc’s stock reached a 52-week high, trading at 77.78 USD, showcasing a strong performance over the past year. According to InvestingPro data, the company, now valued at $18.51 billion, trades at a P/E ratio of 12.56, while analysts maintain a bullish consensus with price targets ranging up to $88.60. The stock has experienced a significant 1-year change, increasing by 39.94%. This notable rise reflects investor confidence and positive market sentiment towards the company, supported by management’s aggressive share buybacks and high shareholder yield. The achievement of this 52-week high underscores Trimble’s robust market position and its ability to capitalize on growth opportunities in its sector. Technical indicators from InvestingPro suggest the stock is currently in overbought territory, with 13 additional real-time insights available for subscribers.
In other recent news, Trimble Inc. reported impressive first-quarter results, surpassing analyst expectations with adjusted earnings per share of $0.61 and revenue of $840.6 million. This revenue exceeded the consensus estimate of $811.4 million, despite a 12% year-over-year decline, and reflected a 2% increase on an organic basis. The company’s annualized recurring revenue reached a record $2.18 billion, marking a 7% year-over-year increase and a 15% organic growth. Meanwhile, JPMorgan raised its price target for Trimble shares to $88, maintaining an Overweight rating, following discussions with the company’s leadership about growth prospects. Bernstein also reiterated an Outperform rating with an $80 target, noting the resilience in Trimble’s construction technology demand and strategic partnerships. At the company’s annual meeting, shareholders elected all ten director nominees and approved key proposals, including executive compensation and the appointment of KPMG as the independent auditor. Additionally, Trimble’s management outlined expectations for future revenue and earnings, maintaining its 2025 guidance and projecting revenue between $3.37 billion and $3.47 billion for the year. The company also repurchased $627.4 million in shares during the quarter, highlighting its confidence in its financial position.
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