Press coverage about Garmin (NASDAQ:GRMN) has trended somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Garmin earned a news sentiment score of 0.10 on Accern’s scale. Accern also gave news stories about the scientific and technical instruments company an impact score of 44.3521186106984 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have effected Accern Sentiment Analysis’s scoring:
- Introducing AccuWeather Go on Garmin Automotive Platform (prnewswire.com)
- Garmin Ltd. (GRMN) returned -1.82% Monthly Low Performance – The Stocks News (press release) (thestocksnews.com)
- Garmin Announce Speak Plus with Amazon Alexa and Dashcam (pocketgpsworld.com)
- The new Garmin Speak Plus with Amazon Alexa brings Amazon Alexa to a vehicle and adds a built-in dash cam (automotiveworld.com)
- The new Garmin® Speak Plus with Amazon Alexa brings Amazon Alexa to a vehicle and adds a built-in dash cam (finance.yahoo.com)
GRMN has been the topic of a number of analyst reports. Credit Suisse Group reissued an “underperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Garmin in a report on Tuesday, December 12th. Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Morgan Stanley increased their price objective on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Friday, December 15th. Finally, BidaskClub lowered Garmin from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.71.
Garmin (GRMN) traded down $0.49 on Tuesday, reaching $59.85. The company’s stock had a trading volume of 975,029 shares, compared to its average volume of 1,070,000. The firm has a market cap of $11,220.00, a price-to-earnings ratio of 16.31, a P/E/G ratio of 2.42 and a beta of 0.83. Garmin has a 12-month low of $47.03 and a 12-month high of $63.15.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million for the quarter, compared to analyst estimates of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. sell-side analysts forecast that Garmin will post 2.9 earnings per share for the current fiscal year.
In other Garmin news, major shareholder Jonathan Burrell sold 254,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total value of $15,862,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Biddlecombe sold 755 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The disclosure for this sale can be found here. Insiders sold a total of 1,063,870 shares of company stock worth $64,367,378 in the last ninety days. Insiders own 18.30% of the company’s stock.
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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