Wall Street analysts forecast that Garmin Ltd. (NASDAQ:GRMN) will report $668.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Garmin’s earnings. The highest sales estimate is $679.15 million and the lowest is $659.30 million. Garmin reported sales of $638.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The firm is scheduled to report its next earnings results before the market opens on Wednesday, May 2nd.
According to Zacks, analysts expect that Garmin will report full year sales of $3.20 billion for the current year, with estimates ranging from $3.17 billion to $3.21 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.26 billion per share, with estimates ranging from $3.22 billion to $3.34 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Garmin.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The company had revenue of $888.49 million for the quarter, compared to analysts’ expectations of $872.73 million. During the same period last year, the business earned $0.73 EPS. Garmin’s quarterly revenue was up 3.2% compared to the same quarter last year.
In other Garmin news, Director Charles Peffer sold 9,905 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $60.55, for a total transaction of $599,747.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Min H. Kao sold 150,000 shares of the firm’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $60.05, for a total value of $9,007,500.00. Following the transaction, the chairman now owns 8,760,554 shares in the company, valued at $526,071,267.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 465,453 shares of company stock worth $28,134,625. Company insiders own 18.30% of the company’s stock.
A number of large investors have recently modified their holdings of GRMN. Heartland Advisors Inc. purchased a new stake in shares of Garmin during the 4th quarter valued at $208,000. Garrison Financial Corp purchased a new stake in shares of Garmin during the 4th quarter valued at $211,000. LMR Partners LLP purchased a new stake in shares of Garmin during the 4th quarter valued at $283,000. Financial Advocates Investment Management purchased a new stake in shares of Garmin during the 4th quarter valued at $320,000. Finally, Sciencast Management LP purchased a new stake in shares of Garmin during the 4th quarter valued at $355,000. Institutional investors and hedge funds own 39.33% of the company’s stock.
Shares of GRMN traded up $0.06 during trading hours on Friday, reaching $59.98. The stock had a trading volume of 733,181 shares, compared to its average volume of 1,143,711. Garmin has a 12 month low of $48.83 and a 12 month high of $65.96. The stock has a market cap of $11,771.74, a P/E ratio of 20.40, a P/E/G ratio of 2.34 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Monday, June 18th will be paid a dividend of $0.53 per share. This is a boost from Garmin’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a yield of 3.53%. Garmin’s dividend payout ratio (DPR) is 69.39%.
Garmin Company Profile
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.
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