Favorable News Coverage Somewhat Unlikely to Affect Garmin (GRMN) Share Price
News headlines about Garmin (NASDAQ:GRMN) have trended positive on Thursday, Accern reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Garmin earned a news impact score of 0.26 on Accern’s scale. Accern also gave headlines about the scientific and technical instruments company an impact score of 46.1717871566946 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the headlines that may have effected Accern’s scoring:
- Garmin delivers 500th G1000 integrated flight deck upgrade (financial-news.co.uk)
- Garmin announces new global datalink promotion (rotor.org)
- Garmin announces incentives for G5000 (financial-news.co.uk)
- Garmin® selected as Official Supplier for the Volvo Ocean Race (finance.yahoo.com)
- Garmin Takes Over #413 Spot From Juniper Networks (marketnewsvideo.com)
Garmin (NASDAQ GRMN) opened at 54.38 on Thursday. Garmin has a 1-year low of $46.80 and a 1-year high of $55.74. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 15.28 and a beta of 0.86. The firm’s 50-day moving average price is $52.83 and its 200-day moving average price is $51.66.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share (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 return on equity of 15.55% and a net margin of 22.07%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share. Equities research analysts forecast that Garmin will post $2.80 EPS for the current fiscal year.
GRMN has been the topic of a number of recent research reports. Morgan Stanley set a $50.00 target price on Garmin and gave the stock a “hold” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Monday, July 10th. BidaskClub upgraded Garmin from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Longbow Research reiterated a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.80.
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In other news, major shareholder Jonathan Burrell sold 232,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $51.36, for a total value of $11,915,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew R. Etkind sold 2,073 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $53.00, for a total transaction of $109,869.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 978,183 shares of company stock worth $50,616,903. Company insiders own 18.30% of the company’s stock.
Garmin Company Profile
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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