Garmin (GRMN) to Release Earnings on Wednesday

Garmin (NASDAQ:GRMN) is set to post its quarterly earnings results before the market opens on Wednesday, October 30th. Analysts expect Garmin to post earnings of $0.94 per share for the quarter. Garmin has set its FY 2019 guidance at $3.90-3.90 EPS and its FY19 guidance at $3.90 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.16. The business had revenue of $955.00 million for the quarter, compared to the consensus estimate of $930.98 million. Garmin had a net margin of 21.32% and a return on equity of 17.97%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. On average, analysts expect Garmin to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of GRMN stock opened at $87.42 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 1.76. The company has a market capitalization of $17.32 billion, a P/E ratio of 23.69, a P/E/G ratio of 3.05 and a beta of 0.91. The company’s 50-day simple moving average is $85.05 and its two-hundred day simple moving average is $81.65. Garmin has a one year low of $59.98 and a one year high of $89.72.

A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Garmin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. ValuEngine downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $78.66.

In other news, insider Min H. Kao sold 842,410 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $78.37, for a total transaction of $66,019,671.70. Following the transaction, the insider now directly owns 1,779,429 shares in the company, valued at $139,453,850.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sean Biddlecombe sold 316 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $80.39, for a total transaction of $25,403.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,250,822 shares of company stock worth $254,464,823. Insiders own 23.83% of the company’s stock.

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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Earnings History for Garmin (NASDAQ:GRMN)

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