Garmin Ltd. (GRMN) to Distribute Quarterly Dividend of $1.05 on September 25th

Garmin Ltd. (NYSE:GRMN) declared a quarterly dividend on Wednesday, February 18th. Investors of record on Friday, September 11th will be paid a dividend of 1.05 per share by the scientific and technical instruments company on Friday, September 25th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 11th.

Garmin has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Garmin has a dividend payout ratio of 49.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Garmin to earn $10.58 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 39.7%.

Garmin Stock Performance

Garmin stock opened at $275.55 on Wednesday. Garmin has a one year low of $186.67 and a one year high of $314.28. The company has a 50-day simple moving average of $274.35 and a 200-day simple moving average of $253.71. The firm has a market capitalization of $53.14 billion, a P/E ratio of 28.41, a P/E/G ratio of 3.10 and a beta of 0.85.

Garmin (NYSE:GRMN) last posted its earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. Garmin’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Garmin will post 10.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Friday. UBS Group set a $370.00 target price on Garmin in a report on Thursday, August 6th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. KeyCorp reissued a “sector weight” rating on shares of Garmin in a research note on Wednesday, September 2nd. Finally, Tigress Financial restated a “strong-buy” rating on shares of Garmin in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.17.

Garmin Company Profile

Garmin Ltd. is a technology company that develops products and services based on global positioning system (GPS) and other navigation technologies. The company serves consumers, businesses and specialized markets through its fitness, outdoor, aviation, marine and automotive original equipment manufacturer (OEM) segments.

Its product portfolio includes smartwatches and cycling computers, sports and activity trackers, outdoor navigation devices, satellite communication products, aviation avionics and navigation systems, marine chartplotters and sonar equipment, and in-vehicle navigation and infotainment solutions.