$0.56 Earnings Per Share Expected for Garmin Ltd. (GRMN) This Quarter

Analysts expect Garmin Ltd. (NASDAQ:GRMN) to post $0.56 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Garmin’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.59. Garmin reported earnings of $0.52 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The company is expected to issue its next earnings results before the market opens on Wednesday, May 2nd.

According to Zacks, analysts expect that Garmin will report full-year earnings of $3.05 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.11. For the next financial year, analysts expect that the business will post earnings of $3.21 per share, with EPS estimates ranging from $3.11 to $3.32. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Garmin.

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Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.04. The business had revenue of $888.49 million during the quarter, compared to analysts’ expectations of $872.73 million. Garmin had a net margin of 22.51% and a return on equity of 15.16%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share.

A number of equities research analysts have recently commented on the stock. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Monday, March 12th. BidaskClub upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Credit Suisse Group restated a “hold” rating on shares of Garmin in a research report on Thursday, February 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $60.00 price objective (up from $57.00) on shares of Garmin in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.00.

In other Garmin news, insider Min H. Kao sold 262,611 shares of Garmin stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $60.04, for a total transaction of $15,767,164.44. Following the completion of the sale, the insider now directly owns 8,760,554 shares in the company, valued at $525,983,662.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clifton A. Pemble sold 36,208 shares of Garmin stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.00, for a total transaction of $2,353,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 465,453 shares of company stock valued at $28,134,625. 18.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Garmin by 1.3% during the fourth quarter. BlackRock Inc. now owns 11,270,906 shares of the scientific and technical instruments company’s stock valued at $671,406,000 after acquiring an additional 141,665 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Garmin by 24.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock valued at $119,907,000 after acquiring an additional 393,740 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Garmin by 0.6% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,624,085 shares of the scientific and technical instruments company’s stock valued at $96,747,000 after acquiring an additional 9,409 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Garmin by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 1,506,624 shares of the scientific and technical instruments company’s stock valued at $89,595,000 after acquiring an additional 191,405 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Garmin by 12.6% during the fourth quarter. Schroder Investment Management Group now owns 1,460,465 shares of the scientific and technical instruments company’s stock valued at $87,000,000 after acquiring an additional 163,211 shares during the last quarter. Institutional investors and hedge funds own 39.33% of the company’s stock.

Shares of NASDAQ GRMN opened at $59.30 on Wednesday. The stock has a market capitalization of $11,692.51, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.32 and a beta of 0.99. Garmin has a 52 week low of $48.50 and a 52 week high of $65.96.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 18th will be given 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 3.58%. Garmin’s dividend payout ratio (DPR) is presently 69.39%.

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About Garmin

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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Earnings History and Estimates for Garmin (NASDAQ:GRMN)

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