BidaskClub upgraded shares of Garmin (NASDAQ:GRMN) from a hold rating to a buy rating in a research note issued to investors on Thursday.
Other equities analysts also recently issued reports about the company. Tigress Financial reiterated a buy rating on shares of Garmin in a research report on Monday, March 12th. ValuEngine upgraded Garmin from a hold rating to a buy rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Garmin from a hold rating to a buy rating and set a $68.00 target price on the stock in a research report on Thursday, January 4th. Credit Suisse Group restated a hold rating on shares of Garmin in a report on Thursday, February 22nd. Finally, Robert W. Baird restated a neutral rating and issued a $60.00 price objective (up from $57.00) on shares of Garmin in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Garmin presently has a consensus rating of Hold and an average price target of $57.13.
Garmin (GRMN) opened at $60.11 on Thursday. Garmin has a 12-month low of $48.50 and a 12-month high of $65.96. The firm has a market capitalization of $11,906.41, a PE ratio of 16.33, a P/E/G ratio of 2.36 and a beta of 0.97.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The firm had revenue of $888.49 million for the quarter, compared to the consensus estimate of $872.73 million. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. analysts expect that Garmin will post 3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 18th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.53%. This is an increase from Garmin’s previous quarterly dividend of $0.51. Garmin’s dividend payout ratio (DPR) is 55.43%.
In other news, Director Charles Peffer sold 9,905 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $60.55, for a total value of $599,747.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew R. Etkind sold 1,929 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $60.61, for a total value of $116,916.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,042 shares of company stock worth $3,070,184. Company insiders own 18.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Heartland Advisors Inc. purchased a new stake in shares of Garmin during the 4th quarter valued at about $208,000. Garrison Financial Corp purchased a new stake in shares of Garmin during the 4th quarter valued at about $211,000. Sigma Planning Corp purchased a new stake in shares of Garmin during the 3rd quarter valued at about $241,000. LMR Partners LLP purchased a new stake in shares of Garmin during the 4th quarter valued at about $283,000. Finally, Financial Advocates Investment Management purchased a new stake in shares of Garmin during the 4th quarter valued at about $320,000. Institutional investors and hedge funds own 39.37% of the company’s stock.
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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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