Garmin Ltd. (NASDAQ:GRMN) Expected to Post Earnings of $0.94 Per Share

Wall Street brokerages expect Garmin Ltd. (NASDAQ:GRMN) to announce earnings per share of $0.94 for the current quarter, according to Zacks. Two analysts have made estimates for Garmin’s earnings. The highest EPS estimate is $1.01 and the lowest is $0.91. Garmin reported earnings per share of $1.00 during the same quarter last year, which would suggest a negative year over year growth rate of 6%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, October 30th.

On average, analysts expect that Garmin will report full-year earnings of $3.90 per share for the current financial year, with EPS estimates ranging from $3.88 to $3.90. For the next year, analysts expect that the business will report earnings of $4.03 per share, with EPS estimates ranging from $3.95 to $4.12. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Garmin.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.16. Garmin had a net margin of 21.32% and a return on equity of 17.97%. The firm had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $930.98 million. During the same quarter last year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.

Several research firms have commented on GRMN. BidaskClub raised shares of Garmin from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. ValuEngine cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $78.66.

Shares of Garmin stock traded up $0.42 during mid-day trading on Monday, hitting $87.65. 707,100 shares of the stock were exchanged, compared to its average volume of 1,094,518. Garmin has a 12 month low of $59.98 and a 12 month high of $89.72. The company has a 50-day simple moving average of $85.60 and a 200 day simple moving average of $81.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.76 and a current ratio of 2.39. The company has a market capitalization of $17.11 billion, a P/E ratio of 23.75, a P/E/G ratio of 3.02 and a beta of 0.91.

In related news, insider Min H. Kao sold 414,102 shares of Garmin stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $76.51, for a total value of $31,682,944.02. Following the completion of the transaction, the insider now directly owns 1,779,429 shares in the company, valued at approximately $136,144,112.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Min H. Kao sold 430,636 shares of Garmin stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $75.42, for a total transaction of $32,478,567.12. Following the completion of the transaction, the insider now owns 1,779,429 shares of the company’s stock, valued at $134,204,535.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,852,996 shares of company stock valued at $223,193,928. 23.83% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in GRMN. Signaturefd LLC grew its position in shares of Garmin by 7.9% during the 2nd quarter. Signaturefd LLC now owns 1,937 shares of the scientific and technical instruments company’s stock valued at $155,000 after purchasing an additional 141 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Garmin by 2.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,582 shares of the scientific and technical instruments company’s stock valued at $605,000 after purchasing an additional 155 shares in the last quarter. M&T Bank Corp grew its position in shares of Garmin by 0.5% during the 2nd quarter. M&T Bank Corp now owns 41,077 shares of the scientific and technical instruments company’s stock valued at $3,280,000 after purchasing an additional 193 shares in the last quarter. Cozad Asset Management Inc. grew its position in shares of Garmin by 0.6% during the 2nd quarter. Cozad Asset Management Inc. now owns 33,006 shares of the scientific and technical instruments company’s stock valued at $2,634,000 after purchasing an additional 195 shares in the last quarter. Finally, Meritage Portfolio Management grew its position in shares of Garmin by 0.8% during the 3rd quarter. Meritage Portfolio Management now owns 26,193 shares of the scientific and technical instruments company’s stock valued at $2,218,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 42.14% of the company’s stock.

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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