Brokerages Expect Garmin Ltd. (NASDAQ:GRMN) Will Post Quarterly Sales of $625.48 Million

Analysts forecast that Garmin Ltd. (NASDAQ:GRMN) will report sales of $625.48 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Garmin’s earnings. The highest sales estimate is $683.06 million and the lowest is $567.90 million. Garmin reported sales of $954.84 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 34.5%. The business is scheduled to report its next earnings report on Wednesday, July 29th.

On average, analysts expect that Garmin will report full-year sales of $3.33 billion for the current year, with estimates ranging from $3.16 billion to $3.42 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.85 billion, with estimates ranging from $3.70 billion to $4.02 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Garmin.

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

Several equities analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Garmin in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on Garmin from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Cleveland Research raised Garmin from a “neutral” rating to a “buy” rating in a research report on Monday, March 16th. Cfra reduced their price target on Garmin from $104.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. Finally, Zacks Investment Research raised 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $95.29.

Garmin stock opened at $96.15 on Tuesday. The firm has a market capitalization of $18.12 billion, a P/E ratio of 18.89, a PEG ratio of 4.01 and a beta of 0.99. Garmin has a 1 year low of $61.04 and a 1 year high of $105.58. The business has a 50-day moving average of $90.01 and a 200-day moving average of $89.08. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is presently 54.83%.

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Munn sold 1,500 shares of Garmin stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $80.84, for a total transaction of $121,260.00. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Garmin during the 4th quarter worth about $26,000. Lowe Wealth Advisors LLC bought a new stake in shares of Garmin during the 1st quarter worth about $30,000. Capital Square LLC bought a new stake in shares of Garmin during the 1st quarter worth about $34,000. Quadrant Capital Group LLC boosted its holdings in shares of Garmin by 169.0% during the 4th quarter. Quadrant Capital Group LLC now owns 382 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 240 shares during the period. Finally, WASHINGTON TRUST Co bought a new stake in shares of Garmin during the 1st quarter worth about $36,000. 46.95% of the stock is owned by institutional investors.

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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