Analysts predict that Garmin Ltd. (NASDAQ: GRMN) to announce EPS of $ 1.27
Wall Street analysts expect Garmin Ltd. (NASDAQ: GRMN) posted earnings per share of $ 1.27 for the current fiscal quarter, according to Zacks. Two analysts made estimates for Garmin’s earnings, with the lowest EPS estimate at $ 1.18 and the highest estimate at $ 1.41. Garmin reported earnings of $ 1.58 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 19.6%. The company is expected to release its next earnings report on Wednesday, October 27.
According to Zacks, analysts predict that Garmin will report annual earnings of $ 5.60 per share for the current fiscal year, with EPS estimates ranging from $ 5.50 to $ 5.85. For the next fiscal year, analysts expect the company to report earnings of $ 6.31 per share, with EPS estimates ranging from $ 6.10 to $ 6.65. Zacks earnings per share averages are an average based on a survey of research companies that cover Garmin.
Garmin (NASDAQ: GRMN) last released its quarterly earnings data on Wednesday, July 28. The science and engineering instruments company reported EPS of $ 1.68 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.23 by $ 0.45. The company posted revenue of $ 1.33 billion in the quarter, compared to a consensus estimate of $ 1.07 billion. Garmin had a net margin of 24.36% and a return on equity of 21.68%.
Several brokerages recently commented on GRMN. Bank of America downgraded Garmin’s stock rating from a “buy” rating to a “neutral” rating and set a price target of $ 155.00 for the company. in a research note on Tuesday, June 22. Deutsche Bank Aktiengesellschaft raised its price target for Garmin shares from $ 140.00 to $ 155.00 and gave the company a “conservation” rating in a research note on Thursday, July 29. Tigress Financial reaffirmed a “strong buy” rating and set a price target of $ 198.00 (from $ 174.00 previously) on Garmin shares in a research note on Wednesday, August 4. Zacks Investment Research raised its price target for Garmin shares to $ 171.25 in a research note on Tuesday, September 14. Finally, Morgan Stanley raised its price target for Garmin shares from $ 138.00 to $ 147.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29. Five equity research analysts rated the stock with a conservation rating, two gave the stock a buy rating, and one gave the stock a high buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $ 157.04.
In other Garmin news, director Sean Biddlecombe sold 405 shares of the company in a trade on Wednesday, August 4. The shares were sold for an average price of $ 161.14, for a total value of $ 65,261.70. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible through this hyperlink. In addition, CEO Clifton A. Pemble sold 2,333 shares of the company in a trade on Friday August 6. The stock was sold for an average price of $ 165.00, for a total trade of $ 384,945.00. Disclosure of this sale can be found here. 21.39% of the shares are held by insiders of the company.
Hedge funds and other institutional investors have recently changed their holdings in the company. CWA Asset Management Group LLC increased its holdings of Garmin shares by 5.0% in the second quarter. CWA Asset Management Group LLC now owns 110,144 shares of the S&T company valued at $ 16,091,000 after purchasing an additional 5,267 shares during the last quarter. FIL Ltd increased its holdings in Garmin shares by 275.4% during the first quarter. FIL Ltd now owns 19,808 shares of the scientific and technical instruments company valued at $ 2,612,000 after purchasing an additional 14,532 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in Garmin by 34.7% in the first quarter. Wealthfront Advisers LLC now owns 8,567 shares of the S&T company valued at $ 1,130,000 after purchasing an additional 2,205 shares in the last quarter. Segment Wealth Management LLC increased its holdings in Garmin by 2.3% during the second quarter. Segment Wealth Management LLC now owns 68,957 shares of the S&T company valued at $ 9,974,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Davy Global Fund Management Ltd increased its stake in Garmin by 43.1% during the first quarter. Davy Global Fund Management Ltd now owns 23,092 shares of the S&T company valued at $ 3,045,000 after purchasing an additional 6,952 shares in the last quarter. Hedge funds and other institutional investors hold 51.64% of the company’s shares.
NASDAQ: GRMN traded up $ 0.81 on Friday, reaching $ 172.62. The company had a trading volume of 525,082 shares, compared to its average volume of 660,085. The stock has a market cap of $ 33.20 billion, a price / earnings ratio of 28.11, a PEG ratio. of 4.53 and a beta of 0.99. The company has a 50-day moving average of $ 166.40 and a two-hundred-day moving average of $ 148.52. Garmin has a 52-week low of $ 91.84 and a 52-week high of $ 178.80.
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 marine electronics such as cartography, sounders, radars, autopilot systems and sailing.
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