Several other research firms have also recently issued reports on GRMN. Morgan Stanley raised their price objective on Zynga and gave the stock an overweight rating in a report on Thursday, May 2nd. Tigress Financial reiterated a buy rating on shares of Garmin in a report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their target price on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a neutral rating in a report on Friday, June 7th. Finally, Zacks Investment Research cut GenMark Diagnostics from a hold rating to a sell rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $78.66.
GRMN stock opened at $81.08 on Wednesday. Garmin has a 52-week low of $59.98 and a 52-week high of $89.72. The business’s fifty day simple moving average is $79.78. The company has a quick ratio of 3.07, a current ratio of 4.04 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $16.24 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.94.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Garmin had a return on equity of 17.60% and a net margin of 20.72%. The business had revenue of $766.00 million for the quarter, compared to analysts’ expectations of $733.26 million. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Garmin will post 3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, September 13th. Garmin’s payout ratio is currently 61.79%.
In other Garmin news, insider Min H. Kao sold 362,080 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $79.09, for a total value of $28,636,907.20. Following the transaction, the insider now directly owns 1,799,429 shares of the company’s stock, valued at $142,316,839.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Min H. Kao sold 416,769 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $79.51, for a total value of $33,137,303.19. Following the completion of the transaction, the insider now directly owns 1,799,429 shares in the company, valued at $143,072,599.79. The disclosure for this sale can be found here. Insiders sold 1,872,225 shares of company stock worth $149,375,781 in the last quarter. 23.83% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in GRMN. Hilton Capital Management LLC purchased a new position in Garmin in the first quarter valued at about $29,000. Hanseatic Management Services Inc. purchased a new position in Garmin in the first quarter valued at about $30,000. Huntington National Bank raised its position in Garmin by 244.4% in the first quarter. Huntington National Bank now owns 372 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 264 shares during the period. Liberty Wealth Management LLC purchased a new stake in shares of Garmin during the fourth quarter worth about $39,000. Finally, Trust Co. of Vermont increased its position in shares of Garmin by 762.1% during the first quarter. Trust Co. of Vermont now owns 500 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 442 shares during the last quarter. 42.58% of the stock is currently owned by institutional investors.
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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