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Garmin (NASDAQ:GRMN)’s share price reached a new 52-week high on Wednesday , AnalystRatings.NET reports. The company traded as high as $61.06 and last traded at $60.61, with a volume of 584,787 shares. The stock had previously closed at $60.50.

GRMN has been the subject of a number of recent research reports. Analysts at Citigroup Inc. initiated coverage on shares of Garmin in a research note on Wednesday. They set an “underweight” rating and a $52.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Garmin in a research note on Wednesday. They set an “underweight” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $53.95.

The stock’s 50-day moving average is $57.82 and its 200-day moving average is $52.16. The company has a market cap of $11.928 billion and a price-to-earnings ratio of 18.44.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.11. The company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $541.00 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Garmin will post $2.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, June 13th.

Garmin Ltd. (NASDAQ:GRMN) is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system (GPS) technology.

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