Zacks: Analysts Expect Garmin Ltd. (GRMN) Will Post Earnings of $0.75 Per Share

Equities research analysts forecast that Garmin Ltd. (NASDAQ:GRMN) will announce earnings per share (EPS) of $0.75 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Garmin’s earnings. The lowest EPS estimate is $0.72 and the highest is $0.77. Garmin posted earnings of $0.73 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.7%. The firm is expected to report its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Garmin will report full-year earnings of $2.90 per share for the current year, with EPS estimates ranging from $2.87 to $2.92. For the next financial year, analysts forecast that the firm will report earnings of $2.96 per share, with EPS estimates ranging from $2.86 to $3.03. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Garmin.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 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 company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $722.00 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis.

GRMN has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Morgan Stanley lifted their price objective on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Finally, BidaskClub raised shares of Garmin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $56.57.

In other news, EVP Philip Straub sold 2,453 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $61.91, for a total transaction of $151,865.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Biddlecombe sold 755 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders have sold 1,065,943 shares of company stock valued at $64,477,247. 18.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans lifted its stake in shares of Garmin by 2.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,340 shares of the scientific and technical instruments company’s stock worth $221,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System raised its stake in Garmin by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 38,429 shares of the scientific and technical instruments company’s stock worth $1,961,000 after purchasing an additional 100 shares in the last quarter. Wedbush Securities Inc. raised its stake in Garmin by 3.3% in the 2nd quarter. Wedbush Securities Inc. now owns 4,867 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 156 shares in the last quarter. US Bancorp DE raised its stake in Garmin by 8.8% in the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after purchasing an additional 180 shares in the last quarter. Finally, WFG Advisors LP raised its stake in Garmin by 11.5% in the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 39.37% of the company’s stock.

Shares of Garmin (NASDAQ GRMN) traded down $1.10 on Thursday, hitting $58.36. 5,300,000 shares of the stock were exchanged, compared to its average volume of 1,180,000. Garmin has a 52 week low of $47.03 and a 52 week high of $63.15. The company has a market cap of $10,940.00, a P/E ratio of 20.26, a PEG ratio of 2.41 and a beta of 0.83.

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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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Earnings History and Estimates for Garmin (NASDAQ:GRMN)

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