FY2017 EPS Estimates for Garmin Ltd. Increased by Analyst (GRMN)

Garmin Ltd. (NASDAQ:GRMN) – Investment analysts at Dougherty & Co raised their FY2017 earnings per share (EPS) estimates for shares of Garmin in a research report issued on Thursday. Dougherty & Co analyst C. Anderson now anticipates that the scientific and technical instruments company will earn $2.80 per share for the year, up from their previous forecast of $2.67. Dougherty & Co also issued estimates for Garmin’s FY2018 earnings at $2.77 EPS.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $816.89 million for the quarter, compared to analyst estimates of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS.

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Other equities analysts also recently issued reports about the stock. Tigress Financial initiated coverage on shares of Garmin in a research note on Tuesday, May 2nd. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, May 4th. Longbow Research restated a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Morgan Stanley set a $50.00 price target on shares of Garmin and gave the company a “hold” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.21.

Shares of Garmin (NASDAQ:GRMN) opened at 51.17 on Friday. The firm has a 50-day moving average of $51.31 and a 200 day moving average of $51.24. Garmin has a 52-week low of $46.05 and a 52-week high of $55.74. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 14.38 and a beta of 0.86.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.04 dividend on an annualized basis and a yield of 3.99%. Garmin’s payout ratio is 57.46%.

In other Garmin news, major shareholder Jonathan Burrell sold 232,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $51.36, for a total transaction of $11,915,520.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Biddlecombe sold 1,697 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.83, for a total transaction of $87,955.51. The disclosure for this sale can be found here. Insiders have sold 633,697 shares of company stock worth $32,894,476 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. WFG Advisors LP increased its stake in shares of Garmin by 11.5% in the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 225 shares during the last quarter. US Bancorp DE increased its stake in shares of Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after buying an additional 180 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Garmin during the first quarter worth about $144,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Garmin during the first quarter worth about $156,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Garmin by 11.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,162 shares of the scientific and technical instruments company’s stock worth $151,000 after buying an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

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.

Earnings History and Estimates for Garmin (NASDAQ:GRMN)

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