Garmin Ltd. (GRMN) Scheduled to Post Earnings on Tuesday
Garmin Ltd. (NASDAQ:GRMN) will release its earnings data before the market opens on Tuesday, October 24th. Analysts expect Garmin to post earnings of $0.66 per share for the quarter. Garmin has set its FY17 guidance at ~$2.80 EPS.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The business had revenue of $816.89 million for the quarter, compared to the consensus estimate of $806.67 million. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. On average, analysts expect Garmin to post $2.79 EPS for the current fiscal year and $2.84 EPS for the next fiscal year.
Shares of Garmin Ltd. (NASDAQ GRMN) opened at 55.15 on Tuesday. The firm’s 50-day moving average price is $53.01 and its 200 day moving average price is $51.72. Garmin Ltd. has a 1-year low of $46.80 and a 1-year high of $55.74. The stock has a market cap of $10.35 billion, a P/E ratio of 15.50 and a beta of 0.86.
A number of analysts have recently commented on GRMN shares. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Monday, July 10th. Longbow Research upgraded 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. BidaskClub cut Garmin from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley set a $50.00 target price on Garmin and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.80.
In related news, major shareholder Jonathan Burrell sold 232,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $51.36, for a total value of $11,915,520.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sean Biddlecombe sold 1,697 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.83, for a total value of $87,955.51. The disclosure for this sale can be found here. Insiders sold a total of 978,183 shares of company stock worth $50,616,903 in the last 90 days. 18.30% of the stock is currently owned by insiders.
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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