Recent Research Analysts’ Ratings Updates for Garmin (GRMN)
Garmin (NASDAQ: GRMN) has recently received a number of price target changes and ratings updates:
- 8/8/2017 – Garmin had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
- 8/4/2017 – Garmin was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 8/3/2017 – Garmin had its “buy” rating reaffirmed by analysts at Longbow Research.
- 7/31/2017 – Garmin was given a new $50.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
- 7/28/2017 – Garmin was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 7/19/2017 – Garmin was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating. They now have a $60.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
- 7/10/2017 – Garmin had its “buy” rating reaffirmed by analysts at Tigress Financial.
Garmin Ltd. (GRMN) opened at 51.29 on Friday. Garmin Ltd. has a 12 month low of $46.05 and a 12 month high of $55.74. The stock’s 50 day moving average is $51.24 and its 200 day moving average is $51.12. The company has a market cap of $9.63 billion, a PE ratio of 14.41 and a beta of 0.86.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. The firm had revenue of $816.89 million for the quarter, compared to the consensus estimate of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. Equities analysts predict that Garmin Ltd. will post $2.80 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.51 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.04 annualized dividend and a yield of 3.98%. Garmin’s dividend payout ratio (DPR) is presently 57.46%.
In related news, insider Sean Biddlecombe sold 1,697 shares of Garmin stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.83, for a total value of $87,955.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Jonathan Burrell sold 200,000 shares of Garmin stock in a transaction on Wednesday, May 31st. The stock was 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. Insiders sold a total of 401,697 shares of company stock worth $20,978,956 in the last quarter. 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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