Garmin (GRMN) Earning Somewhat Favorable Media Coverage, Analysis Finds

Media stories about Garmin (NASDAQ:GRMN) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Garmin earned a daily sentiment score of 0.11 on Accern’s scale. Accern also gave news articles about the scientific and technical instruments company an impact score of 45.3175106873962 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

These are some of the news articles that may have impacted Accern Sentiment’s scoring:

GRMN has been the subject of several research reports. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Tuesday, March 20th. BidaskClub upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Monday, March 12th. Finally, ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $60.40.



NASDAQ GRMN opened at $60.23 on Friday. The company has a market cap of $11.33 billion, a PE ratio of 20.49, a PEG ratio of 2.29 and a beta of 0.99. Garmin has a one year low of $49.80 and a one year high of $65.96.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $670.71 million. Garmin had a return on equity of 15.66% and a net margin of 18.57%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. sell-side analysts predict that Garmin will post 3.14 earnings per share for the current fiscal year.

In related news, Chairman Min H. Kao sold 50,000 shares of the stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $61.19, for a total transaction of $3,059,500.00. Following the sale, the chairman now owns 5,680,856 shares in the company, valued at approximately $347,611,578.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Min H. Kao sold 151,218 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $61.64, for a total value of $9,321,077.52. Following the sale, the insider now owns 5,811,913 shares in the company, valued at approximately $358,246,317.32. The disclosure for this sale can be found here. Insiders have sold a total of 3,092,381 shares of company stock valued at $185,712,525 over the last quarter. Corporate insiders own 17.85% of the company’s stock.

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.

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

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