Garmin Ltd. (NASDAQ:GRMN) declared a quarterly dividend on Wednesday, July 5th, Zacks reports. Investors of record on Friday, September 15th will be paid a dividend of 0.51 per share by the scientific and technical instruments company on Friday, September 29th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Thursday, September 14th.
Shares of Garmin (NASDAQ GRMN) traded up 0.32% during trading on Friday, hitting $52.48. 1,152,737 shares of the company were exchanged. The firm’s 50-day moving average price is $51.74 and its 200 day moving average price is $51.44. The firm has a market capitalization of $9.85 billion, a PE ratio of 14.75 and a beta of 0.85. Garmin has a 12 month low of $46.80 and a 12 month high of $55.74.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The business had revenue of $816.89 million for the quarter, compared to the consensus estimate of $806.67 million. During the same period last year, the business posted $0.87 EPS. The company’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Garmin will post $2.80 earnings per share for the current fiscal year.
In other news, major shareholder Jonathan Burrell sold 253,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $52.13, for a total value of $13,188,890.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Biddlecombe sold 1,697 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.83, for a total value of $87,955.51. The disclosure for this sale can be found here. Insiders have sold a total of 976,110 shares of company stock valued at $50,507,034 in the last quarter. 18.30% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on the company. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub downgraded Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Tigress Financial restated a “buy” rating on shares of Garmin in a report on Monday, July 10th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Finally, Morgan Stanley set a $50.00 target price on Garmin and gave the stock a “hold” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Garmin has an average rating of “Hold” and a consensus price target of $53.50.
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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