Garmin Given Average Rating of “Hold” by Brokerages (NASDAQ:GRMN)
Shares of Garmin (NASDAQ:GRMN) have received an average rating of “Hold” from the seventeen analysts that are presently covering the company, StockRatingsNetwork.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $56.69.
Garmin (NASDAQ:GRMN) opened at 57.757 on Wednesday. Garmin has a one year low of $36.17 and a one year high of $62.05. The stock has a 50-day moving average of $59.62 and a 200-day moving average of $53.87. The company has a market cap of $11.250 billion and a P/E ratio of 17.50.
Garmin (NASDAQ:GRMN) last released its earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts expect that Garmin will post $2.78 EPS for the current fiscal year.
A number of research firms have recently commented on GRMN. Analysts at Zacks upgraded shares of Garmin from a “neutral” rating to an “outperform” rating in a research note on Friday, July 11th. They now have a $69.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Garmin in a research note on Thursday, July 10th. They now have a $70.00 price target on the stock, up previously from $65.00. Finally, analysts at Pacific Crest downgraded shares of Garmin from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, July 9th. They now have a $57.05 price target on the stock.
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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