Garmin (GRMN) Receiving Somewhat Positive Media Coverage, Report Finds
News headlines about Garmin (NASDAQ:GRMN) have trended somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Garmin earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned headlines about the scientific and technical instruments company an impact score of 45.9123543937533 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Placing the Spotlight on Garmin Ltd (GRMN): Technical Stock Update – Evergreen Caller (evergreencaller.com)
- Volume Moving the Tape For Garmin Ltd (GRMN) – Financial News Review (finnewsreview.com)
- Garmin Ltd. (GRMN) Position Up in Latest Report from Dimensional Fund Advisors Lp – Modern Readers (modernreaders.com)
- Garmin Ltd. (NASDAQ:GRMN) Receives Average Recommendation of “Hold” from Analysts (americanbankingnews.com)
- The Garmin Ltd. (GRMN) Posts Earnings Results, Beats Expectations By $0.07 EPS (overnewsmagazine.com)
Shares of Garmin (NASDAQ GRMN) traded down 0.16% during mid-day trading on Friday, reaching $51.21. 918,377 shares of the company’s stock were exchanged. Garmin has a one year low of $46.05 and a one year high of $55.74. The company’s 50-day moving average price is $51.24 and its 200-day moving average price is $51.12. The company has a market capitalization of $9.61 billion, a PE ratio of 14.39 and a beta of 0.86.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The business had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. During the same period in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts expect that Garmin will post $2.80 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.98%. The ex-dividend date is Thursday, September 14th. Garmin’s payout ratio is 57.46%.
Several research analysts have recently weighed in on the stock. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub cut shares of Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. J P Morgan Chase & Co cut shares of Garmin from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $55.00 to $50.00 in a report on Thursday, May 4th. Bank of America Corporation boosted their price objective on shares of Garmin from $47.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, May 4th. Finally, Tigress Financial assumed coverage on shares of Garmin in a report on Tuesday, May 2nd. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $51.21.
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In other Garmin news, insider Sean Biddlecombe sold 1,697 shares of Garmin stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.83, for a total transaction of $87,955.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jonathan Burrell sold 200,000 shares of Garmin stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $52.11, for a total transaction of $10,422,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 401,697 shares of company stock valued at $20,978,956. Company insiders own 18.30% of the company’s stock.
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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