Garmin (GRMN) Earns Coverage Optimism Score of 0.03

Headlines about Garmin (NASDAQ:GRMN) have trended somewhat positive recently, according to Accern. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Garmin earned a news sentiment score of 0.03 on Accern’s scale. Accern also assigned headlines about the scientific and technical instruments company an impact score of 44.2550853115441 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:

A number of equities analysts recently issued reports on GRMN shares. Credit Suisse Group restated a “hold” rating on shares of Garmin in a research note on Thursday, February 22nd. Robert W. Baird reiterated 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. Tigress Financial reiterated a “buy” rating on shares of Garmin in a report on Monday, March 12th. Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Finally, ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $60.40.

Shares of NASDAQ:GRMN traded up $0.42 on Friday, reaching $61.85. The company’s stock had a trading volume of 640,716 shares, compared to its average volume of 657,809. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.37 and a beta of 0.99. Garmin has a 52-week low of $49.80 and a 52-week high of $65.96.

Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $670.71 million. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. equities research analysts forecast that Garmin will post 3.13 earnings per share for the current fiscal year.

In other news, insider Pao-Chang Huang sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $60.37, for a total value of $289,776.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Min H. Kao sold 150,000 shares of the firm’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $61.30, for a total transaction of $9,195,000.00. Following the sale, the insider now directly owns 5,982,074 shares of the company’s stock, valued at $366,701,136.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,208,574 shares of company stock worth $192,276,388. 17.85% of the stock is owned by company insiders.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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