Garmin Ltd. (GRMN) Set to Announce Earnings on Wednesday
Garmin Ltd. (NASDAQ:GRMN) is set to release its earnings data before the market opens on Wednesday, August 2nd. Analysts expect Garmin to post earnings of $0.81 per share for the quarter. Garmin has set its FY17 guidance at $2.65 EPS.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $638.50 million for the quarter, compared to the consensus estimate of $629.11 million. Garmin had a net margin of 21.78% and a return on equity of 15.86%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, analysts expect Garmin to post $2.68 EPS for the current fiscal year and $2.7 EPS for the next fiscal year.
Shares of Garmin Ltd. (NASDAQ:GRMN) traded down 1.09% during trading on Thursday, hitting $51.68. 182,705 shares of the company traded hands. Garmin Ltd. has a one year low of $46.05 and a one year high of $56.19. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 14.77 and a beta of 0.87. The firm has a 50 day moving average price of $51.29 and a 200-day moving average price of $50.89.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, September 14th. Garmin’s dividend payout ratio (DPR) is currently 58.45%.
In related news, major shareholder Jonathan Burrell sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $52.11, for a total transaction of $10,422,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 400,000 shares of company stock valued at $20,891,000. 18.30% of the stock is currently owned by corporate insiders.
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Several research analysts have recently weighed in on the stock. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Tigress Financial reissued a “buy” rating on shares of Garmin in a research report on Monday, July 10th. Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. Bank of America Corporation lifted their target price on shares of Garmin from $47.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, May 4th. Finally, Goldman Sachs Group, Inc. (The) lifted their target price on shares of Garmin from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.71.
Garmin Company Profile
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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