Garmin (GRMN) Issues FY 2019 Earnings Guidance

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Garmin (NASDAQ:GRMN) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.70-3.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.52. The company issued revenue guidance of $3.5-3.5 billion, compared to the consensus revenue estimate of $3.43 billion.Garmin also updated its FY19 guidance to $3.70 EPS.

Shares of NASDAQ GRMN opened at $82.42 on Friday. Garmin has a 1-year low of $57.01 and a 1-year high of $83.30. The stock has a market cap of $16.45 billion, a PE ratio of 22.34, a P/E/G ratio of 3.05 and a beta of 0.94.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, February 20th. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.80 by $0.22. The company had revenue of $932.11 million during the quarter, compared to the consensus estimate of $893.14 million. Garmin had a net margin of 20.74% and a return on equity of 17.67%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts forecast that Garmin will post 3.7 EPS for the current fiscal year.

Several equities research analysts have recently commented on the stock. Longbow Research downgraded shares of Garmin from a buy rating to a neutral rating and set a $81.95 target price for the company. in a research report on Thursday. They noted that the move was a valuation call. BidaskClub raised shares of Garmin from a buy rating to a strong-buy rating in a research report on Wednesday, February 13th. ValuEngine downgraded shares of Garmin from a buy rating to a hold rating in a research report on Tuesday. Bank of America set a $70.00 target price on shares of Garmin and gave the stock a sell rating in a research report on Thursday, November 15th. Finally, Morgan Stanley decreased their target price on shares of Garmin from $77.00 to $70.00 and set an equal weight rating for the company in a research report on Monday, January 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Garmin has an average rating of Hold and an average price target of $69.79.

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About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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