News stories about Garmin (NASDAQ:GRMN) have been trending somewhat positive recently, Accern Sentiment reports. The research firm identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Garmin earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave news stories about the scientific and technical instruments company an impact score of 44.9549584876768 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
Garmin (NASDAQ GRMN) traded down $1.10 during trading hours on Friday, hitting $58.36. 4,151,555 shares of the stock were exchanged, compared to its average volume of 953,100. Garmin has a twelve month low of $47.03 and a twelve month high of $63.15. The firm has a market capitalization of $11,148.75, a price-to-earnings ratio of 20.65, a PEG ratio of 2.46 and a beta of 0.84.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The firm had revenue of $743.00 million during the quarter, compared to the consensus estimate of $722.00 million. During the same period in the previous year, the firm earned $0.75 earnings per share. Garmin’s revenue was up 2.9% compared to the same quarter last year. sell-side analysts forecast that Garmin will post 2.9 earnings per share for the current year.
A number of analysts recently commented on GRMN shares. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Thursday, November 2nd. Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Friday. BidaskClub cut shares of Garmin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Morgan Stanley lifted their target price on shares of Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Garmin currently has an average rating of “Hold” and an average price target of $56.57.
In other Garmin news, major shareholder Jonathan Burrell sold 254,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.45, for a total transaction of $15,862,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Biddlecombe sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $60.80, for a total transaction of $45,904.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,065,943 shares of company stock valued at $64,477,247. 18.30% of the stock is owned by insiders.
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Garmin Company Profile
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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