$ 1.41 in earnings per share expected for Garmin Ltd. (NASDAQ: GRMN) this quarter
Brokerages expect Garmin Ltd. (NASDAQ: GRMN) reports earnings per share of $ 1.41 for the current fiscal quarter, Zacks reports. Two analysts provided estimates of Garmin’s revenue, with estimates ranging from $ 1.34 to $ 1.58. Garmin posted earnings of $ 1.73 per share in the same quarter last year, which would suggest a negative growth rate of 18.5% year-over-year. The company is expected to report its next results on Wednesday, February 16.
According to Zacks, analysts predict that Garmin will report annual earnings of $ 5.68 per share for the current year, with EPS estimates ranging from $ 5.61 to $ 5.85. For the next fiscal year, analysts predict the company will post earnings of $ 6.21 per share, with EPS estimates ranging from $ 6.01 to $ 6.60. Zacks EPS Averages is an average based on a survey of research companies that cover Garmin.
Garmin (NASDAQ: GRMN) last released its quarterly earnings data on Wednesday, October 27. The science and engineering instruments company reported EPS of $ 1.41 for the quarter, beating the Zacks consensus estimate of $ 1.27 by $ 0.14. The company posted revenue of $ 1.19 billion for the quarter, compared to analysts’ estimates of $ 1.16 billion. Garmin had a return on equity of 20.42% and a net margin of 22.85%. The company’s revenue for the quarter increased 7.4% year-over-year. In the same quarter of the previous year, the company posted EPS of $ 1.58.
GRMN has been the subject of a number of research analyst reports. Tigress Financial raised its price target on Garmin from $ 198.00 to $ 202.00 and gave the company a “strong buy” rating in a report released on Wednesday, November 24. Morgan Stanley lowered its price target on Garmin from $ 147.00 to $ 141.00 and set a rating of “equal weight” to the stock in a report released on Thursday, October 28. Zacks Investment Research downgraded Garmin from a “buy” rating to a “hold” rating and set a price target of $ 163.00 for the stock. in a report on Tuesday, October 5. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Garmin from $ 155.00 to $ 148.00 and set a “hold” rating on the stock in a report released on Friday, November 5. Five research analysts gave the stock a conservation rating, two assigned a buy rating, and one gave the company a high buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $ 154.57.
GRMN opened at $ 136.17 on Friday. The company has a market cap of $ 26.19 billion, a P / E ratio of 23.28, a price / earnings-growth ratio of 3.48 and a beta of 0.96. The stock’s 50-day moving average price is $ 139.96, and its two-hundred-day moving average price is $ 152.53. Garmin has a 12-month low of $ 113.59 and a 12-month high of $ 178.80.
A number of large investors have recently bought and sold shares in the company. Financial Advisors Network Inc. increased its stake in Garmin by 7.2% in the third quarter. Financial Advisors Network Inc. now owns 1,608 shares of the S&T company valued at $ 230,000 after acquiring 108 additional shares during the period. Jackson Wealth Management LLC increased its holdings of Garmin shares 1.6% in the third quarter. Jackson Wealth Management LLC now owns 24,314 shares of the S&T company valued at $ 33,000 after purchasing an additional 376 shares in the last quarter. Tealwood Asset Management Inc. purchased a new stake in Garmin shares in the third quarter valued at approximately $ 3,784,000. Balyasny Asset Management LLC purchased a new stake in Garmin shares in the third quarter valued at approximately $ 6,991,000. Finally, American International Group Inc. increased its stake in Garmin shares by 1.7% in the third quarter. American International Group Inc. now owns 46,963 shares of the scientific and technical instruments company valued at $ 7,301,000 after purchasing an additional 807 shares during the last quarter. 62.40% of the shares are held by hedge funds and other institutional investors.
Garmin Company Profile
Garmin Ltd. is a holding company that supplies navigation, communication and information devices, most of which are powered by Global Positioning System (GPS) technology. It operates in the following five segments: Marine, Outdoor, Fitness, Auto and Aviation. The Marine segment manufactures and offers recreational electronics such as cartography, sounders, radars, autopilot systems and sailing.
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