Zacks: Analysts Anticipate Garmin Ltd. (GRMN) to Post $0.87 EPS

Wall Street brokerages expect that Garmin Ltd. (NASDAQ:GRMN) will report earnings per share (EPS) of $0.87 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Garmin’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.93. Garmin reported earnings per share of $0.88 in the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The company is expected to announce its next earnings results before the market opens on Wednesday, August 1st.

According to Zacks, analysts expect that Garmin will report full-year earnings of $3.14 per share for the current financial year, with EPS estimates ranging from $3.05 to $3.27. For the next fiscal year, analysts expect that the business will post earnings of $3.22 per share, with EPS estimates ranging from $3.10 to $3.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Garmin.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. Garmin had a return on equity of 15.66% and a net margin of 18.57%. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $670.71 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. Garmin’s revenue for the quarter was up 10.9% on a year-over-year basis.

A number of equities analysts have recently weighed in on the company. BidaskClub lowered Garmin from a “strong-buy” rating to a “buy” rating in a research note on Friday. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, Longbow Research set a $72.00 price objective on Garmin and gave the stock a “buy” rating in a research note on Thursday, July 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $62.80.

Shares of NASDAQ GRMN traded down $0.68 during mid-day trading on Wednesday, reaching $62.93. The company’s stock had a trading volume of 888,749 shares, compared to its average volume of 1,013,535. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. Garmin has a 52 week low of $49.80 and a 52 week high of $65.96.

In other news, insider Min H. Kao sold 695,130 shares of the company’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $60.74, for a total value of $42,222,196.20. Following the completion of the transaction, the insider now owns 8,053,783 shares of the company’s stock, valued at $489,186,779.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Danny J. Bartel sold 1,548 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $59.69, for a total value of $92,400.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,991,297 shares of company stock valued at $243,054,720. Corporate insiders own 17.85% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Point72 Asia Hong Kong Ltd lifted its position in shares of Garmin by 105.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock worth $102,000 after buying an additional 891 shares in the last quarter. Segment Wealth Management LLC lifted its position in shares of Garmin by 1.5% in the second quarter. Segment Wealth Management LLC now owns 60,235 shares of the scientific and technical instruments company’s stock worth $3,674,000 after buying an additional 905 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Garmin by 11.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,373 shares of the scientific and technical instruments company’s stock worth $668,000 after buying an additional 1,162 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Garmin by 6.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 20,863 shares of the scientific and technical instruments company’s stock worth $1,242,000 after buying an additional 1,209 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Garmin by 9.4% in the first quarter. LPL Financial LLC now owns 14,459 shares of the scientific and technical instruments company’s stock worth $852,000 after buying an additional 1,245 shares in the last quarter. Institutional investors own 39.84% 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.

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