Garmin Ltd. (GRMN) to Release Earnings on Wednesday
Garmin Ltd. (NASDAQ:GRMN) will be releasing its earnings data before the market opens on Wednesday, November 1st. 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 issued its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The company had revenue of $816.89 million for the quarter, compared to the consensus estimate of $806.67 million. During the same period last year, the firm posted $0.87 EPS. Garmin’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts expect Garmin to post $2.79 EPS for the current fiscal year and $2.84 EPS for the next fiscal year.
Garmin Ltd. (GRMN) opened at 56.41 on Wednesday. The stock has a market capitalization of $10.59 billion, a P/E ratio of 15.85 and a beta of 0.86. The firm’s 50-day moving average is $53.68 and its 200 day moving average is $51.98. Garmin Ltd. has a 12 month low of $46.80 and a 12 month high of $56.43.
In related news, insider Clifton A. Pemble sold 4,066 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $55.00, for a total value of $223,630.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Jonathan Burrell sold 253,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $52.13, for a total transaction of $13,188,890.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 984,130 shares of company stock worth $50,943,988. Corporate insiders own 18.30% of the company’s stock.
A number of brokerages have weighed in on GRMN. 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 report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub cut shares of Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Monday, July 10th. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Garmin currently has an average rating of “Hold” and an average target price of $52.80.
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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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