Garmin (GRMN) Releases FY18 Earnings Guidance

Cornelia Mascio
Febbraio 25, 2018

The stock of Garmin Ltd. (NASDAQ:GRMN) earned "Underperform" rating by Credit Suisse on Monday, January 18. About 1.64M shares traded or 30.82% up from the average. 127,000 shares were sold by BURRELL JONATHAN, worth $6.64 million. ETKIND ANDREW R also sold $90,510 worth of Garmin Ltd. (NASDAQ:GRMN) on Friday, September 8. The firm has a market capitalization of $11,310.00, a price-to-earnings ratio of 16.40, a PEG ratio of 2.36 and a beta of 0.94. Garmin has a 12-month low of $48.50 and a 12-month high of $65.96.

Garmin (NASDAQ:GRMN) issued an update on its FY18 earnings guidance on Wednesday morning. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. The stock of Garmin Ltd. (NASDAQ:GRMN) has "Mkt Perform" rating given on Monday, August 22 by Raymond James. The business's quarterly revenue was up 3.2% on a year-over-year basis. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. research analysts predict that Garmin will post 3.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 18th will be given a dividend of $0.53 per share. This is a boost from Garmin's previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a yield of 3.51%. Garmin's payout ratio is now 55.43%. Finally, Zacks Investment Research raised Garmin from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a research report on Thursday, November 2nd. Credit Suisse Group reissued a "hold" rating on shares of Garmin in a report on Thursday. Garmin Ltd. had 31 analyst reports since July 30, 2015 according to SRatingsIntel. BidaskClub raised Garmin from a "hold" rating to a "buy" rating in a research note on Thursday, February 8th. Finally, ValuEngine upgraded shares of Garmin from a "hold" rating to a "buy" rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. Oppenheimer maintained Garmin Ltd. (NASDAQ:GRMN) on Wednesday, August 2 with "Hold" rating. Biddlecombe Sean had sold 755 shares worth $45,904 on Wednesday, December 13. The shares were sold at an average price of $65.00, for a total value of $2,353,520.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

In related news, insider Clifton A. Pemble sold 36,208 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $62.45, for a total value of $15,862,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,963 shares of company stock valued at $18,261,724.

Several institutional investors have recently modified their holdings of GRMN. Heartland Advisors Inc. bought a new stake in shares of Garmin in the 4th quarter worth about $208,000. Thrivent Financial For Lutherans now owns 4,340 shares of the scientific and technical instruments company's stock worth $221,000 after buying an additional 100 shares during the last quarter. Pinebridge Investments L.P. now owns 9,203 shares of the scientific and technical instruments company's stock valued at $497,000 after buying an additional 2,740 shares during the last quarter. MN raised its holdings in Garmin by 0.5% in the second quarter. Bank of Hawaii acquired a new stake in shares of Garmin in the 3rd quarter valued at $206,000. Garrison Financial Corp acquired a new stake in Garmin during the fourth quarter worth about $211,000. Sensato Investors LLC acquired a new position in Garmin in the fourth quarter valued at $21,946,000. During the same quarter in the prior year, the company earned $0.73 earnings per share.

WARNING: This piece was first published by BBNS and is the property of of BBNS. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & worldwide copyright and trademark laws. The legal version of this news story can be viewed at It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile Global Positioning System market. The Company operates through five segments. 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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