Garmin Ltd. (NASDAQ:GRMN) declared a quarterly dividend on Monday, December 2nd, RTT News reports. Investors of record on Monday, December 16th will be given a dividend of 0.57 per share by the scientific and technical instruments company on Tuesday, December 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.35%.
GRMN opened at $96.92 on Tuesday. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 3.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.93. Garmin has a 1-year low of $59.98 and a 1-year high of $98.76. The business has a 50 day moving average price of $93.10 and a two-hundred day moving average price of $83.64.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.32. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The company had revenue of $934.38 million for the quarter, compared to analysts’ expectations of $869.02 million. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts expect that Garmin will post 4.16 EPS for the current fiscal year.
Several brokerages have commented on GRMN. Morgan Stanley boosted their price target on shares of Garmin from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. BidaskClub raised shares of Garmin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Garmin presently has a consensus rating of “Hold” and an average price target of $81.19.
In other Garmin news, CEO Clifton A. Pemble sold 2,726 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $93.58, for a total transaction of $255,099.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Min H. Kao sold 181,375 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $93.23, for a total value of $16,909,591.25. The disclosure for this sale can be found here. Insiders sold 1,048,640 shares of company stock worth $97,210,169 in the last ninety days. 23.83% of the stock is owned by corporate insiders.
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.
Featured Article: Why is the price-sales ratio important?
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.