Zacks: Analysts Expect Garmin Ltd. (NASDAQ:GRMN) to Announce $0.84 Earnings Per Share

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Analysts expect Garmin Ltd. (NASDAQ:GRMN) to post earnings per share of $0.84 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Garmin’s earnings, with the highest EPS estimate coming in at $0.94 and the lowest estimate coming in at $0.77. Garmin posted earnings of $1.16 per share during the same quarter last year, which would indicate a negative year over year growth rate of 27.6%. The firm is scheduled to announce its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Garmin will report full-year earnings of $3.22 per share for the current financial year, with EPS estimates ranging from $2.86 to $3.55. For the next financial year, analysts expect that the business will report earnings of $4.17 per share, with EPS estimates ranging from $3.70 to $4.57. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Garmin.

Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Garmin had a net margin of 25.30% and a return on equity of 19.38%. The company had revenue of $856.11 million for the quarter, compared to analyst estimates of $817.65 million. During the same period in the previous year, the firm earned $0.73 EPS. The business’s revenue was up 11.8% on a year-over-year basis.

GRMN has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Garmin in a research report on Thursday, April 30th. Colliers Secur. raised Garmin from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Monday, June 15th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Thursday, May 28th. Zacks Investment Research upgraded Garmin from a “sell” rating to a “hold” rating and set a $91.00 price target for the company in a research report on Wednesday, May 27th. Finally, Bank of America cut their price target on Garmin from $85.00 to $76.00 and set an “underperform” rating for the company in a research note on Monday, May 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Garmin presently has a consensus rating of “Hold” and a consensus price target of $95.29.

In other Garmin news, Director Matthew Munn sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.84, for a total value of $121,260.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Desbois sold 3,818 shares of Garmin stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $94.95, for a total value of $362,519.10. The disclosure for this sale can be found here. Insiders own 22.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. CSat Investment Advisory L.P. raised its stake in Garmin by 19.6% during the fourth quarter. CSat Investment Advisory L.P. now owns 768 shares of the scientific and technical instruments company’s stock worth $75,000 after purchasing an additional 126 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Garmin by 16.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 920 shares of the scientific and technical instruments company’s stock worth $90,000 after buying an additional 130 shares during the last quarter. Cooper Financial Group increased its holdings in shares of Garmin by 4.8% during the 1st quarter. Cooper Financial Group now owns 2,995 shares of the scientific and technical instruments company’s stock worth $225,000 after buying an additional 137 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Garmin by 0.7% in the 1st quarter. Gateway Investment Advisers LLC now owns 22,037 shares of the scientific and technical instruments company’s stock worth $1,652,000 after buying an additional 157 shares during the period. Finally, Signaturefd LLC boosted its holdings in Garmin by 7.5% in the first quarter. Signaturefd LLC now owns 2,238 shares of the scientific and technical instruments company’s stock valued at $168,000 after acquiring an additional 157 shares during the last quarter. 46.95% of the stock is owned by hedge funds and other institutional investors.

Shares of GRMN opened at $97.50 on Friday. Garmin has a twelve month low of $61.04 and a twelve month high of $105.58. The company has a current ratio of 3.75, a quick ratio of 2.74 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $18.37 billion, a P/E ratio of 20.77, a PEG ratio of 4.06 and a beta of 0.99. The firm’s 50-day moving average is $90.31 and its two-hundred day moving average is $89.08.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $2.44 annualized dividend and a yield of 2.50%. Garmin’s payout ratio is currently 54.83%.

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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