Equities analysts predict that Garmin Ltd. (NASDAQ:GRMN) will report $1.00 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Garmin’s earnings, with the lowest EPS estimate coming in at $0.99 and the highest estimate coming in at $1.01. Garmin posted earnings of $1.02 per share during the same quarter last year, which suggests a negative year over year growth rate of 2%. The firm is scheduled to report its next earnings report before the market opens on Wednesday, February 19th.
On average, analysts expect that Garmin will report full year earnings of $4.16 per share for the current financial year, with EPS estimates ranging from $4.15 to $4.17. For the next financial year, analysts forecast that the company will post earnings of $4.27 per share, with EPS estimates ranging from $4.20 to $4.36. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Garmin.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.32. The firm had revenue of $934.38 million for the quarter, compared to the consensus estimate of $869.02 million. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 earnings per share.
GRMN has been the topic of several recent research reports. Morgan Stanley upped their price objective on Garmin from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. BidaskClub lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Garmin has a consensus rating of “Hold” and a consensus target price of $81.19.
In other Garmin news, Chairman Min H. Kao sold 255,436 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $94.01, for a total transaction of $24,013,538.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Min H. Kao sold 181,375 shares of Garmin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $93.23, for a total transaction of $16,909,591.25. The disclosure for this sale can be found here. Insiders sold 826,185 shares of company stock valued at $77,782,791 over the last 90 days. Company insiders own 23.83% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI increased its stake in Garmin by 8.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 14,498 shares of the scientific and technical instruments company’s stock worth $1,414,000 after buying an additional 1,155 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Garmin by 28.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 13,533 shares of the scientific and technical instruments company’s stock valued at $1,320,000 after acquiring an additional 2,978 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Garmin by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 56,130 shares of the scientific and technical instruments company’s stock worth $5,476,000 after acquiring an additional 250 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Garmin by 25.6% in the fourth quarter. IFP Advisors Inc now owns 618 shares of the scientific and technical instruments company’s stock worth $60,000 after acquiring an additional 126 shares during the last quarter. Finally, HBW Advisory Services LLC purchased a new stake in shares of Garmin during the fourth quarter worth approximately $318,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.
NASDAQ:GRMN traded up $0.57 during trading hours on Monday, reaching $99.04. The company had a trading volume of 1,816,287 shares, compared to its average volume of 634,004. Garmin has a 1-year low of $66.63 and a 1-year high of $99.26. The firm has a market cap of $19.62 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 3.16 and a beta of 0.89. The business’s 50 day moving average price is $97.66 and its 200-day moving average price is $88.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 61.79%.
Garmin Company Profile
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.
See Also: What is a Swap?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.