Analysts forecast that Garmin Ltd. (NASDAQ:GRMN) will announce $0.75 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Garmin’s earnings. The lowest EPS estimate is $0.72 and the highest is $0.77. Garmin posted earnings of $0.73 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is expected to issue its next earnings report before the market opens on Wednesday, February 21st.
On average, analysts expect that Garmin will report full-year earnings of $2.90 per share for the current fiscal year, with EPS estimates ranging from $2.87 to $2.92. For the next fiscal year, analysts expect that the company will post earnings of $2.96 per share, with EPS estimates ranging from $2.86 to $3.06. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Garmin.
A number of equities analysts have issued reports on GRMN shares. Credit Suisse Group reaffirmed an “underperform” rating and issued a $58.00 target price (up from $48.00) on shares of Garmin in a research report on Tuesday, December 12th. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Thursday, January 4th. Tigress Financial reissued a “buy” rating on shares of Garmin in a research report on Friday, December 15th. BidaskClub lowered Garmin from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Morgan Stanley upped their price target on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $56.71.
A number of hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its stake in Garmin by 24.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock valued at $119,907,000 after buying an additional 393,740 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Garmin by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock valued at $83,412,000 after buying an additional 8,210 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Garmin by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,282,094 shares of the scientific and technical instruments company’s stock valued at $69,195,000 after buying an additional 62,596 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Garmin by 8,318.2% during the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock valued at $64,171,000 after purchasing an additional 1,242,578 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Garmin by 1.0% during the third quarter. Principal Financial Group Inc. now owns 1,170,507 shares of the scientific and technical instruments company’s stock valued at $63,172,000 after purchasing an additional 11,894 shares during the last quarter. 41.81% of the stock is owned by institutional investors and hedge funds.
Garmin (NASDAQ:GRMN) opened at $62.41 on Friday. Garmin has a 52-week low of $48.50 and a 52-week high of $64.96. The stock has a market capitalization of $11,701.88, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.95.
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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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