Garmin Ltd. (NASDAQ:GRMN) – Research analysts at KeyCorp decreased their Q1 2018 earnings estimates for shares of Garmin in a research note issued on Wednesday. KeyCorp analyst B. Erickson now forecasts that the scientific and technical instruments company will post earnings per share of $0.59 for the quarter, down from their prior forecast of $0.61. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Garmin’s Q3 2018 earnings at $0.74 EPS and FY2018 earnings at $3.05 EPS.
Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The company had revenue of $888.49 million for the quarter, compared to analyst estimates of $872.73 million. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue was up 3.2% compared to the same quarter last year.
Shares of Garmin (NASDAQ GRMN) opened at $60.35 on Monday. Garmin has a 12 month low of $48.50 and a 12 month high of $65.96. The firm has a market capitalization of $11,953.95, a P/E ratio of 16.40, a PEG ratio of 2.36 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 18th will be given a dividend of $0.53 per share. This is a positive change from Garmin’s previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a yield of 3.51%. Garmin’s dividend payout ratio is 55.43%.
In related news, insider Clifton A. Pemble sold 36,208 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.00, for a total transaction of $2,353,520.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sean Biddlecombe sold 755 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,963 shares of company stock worth $18,261,724. 18.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Hawaii bought a new position in Garmin in the 3rd quarter valued at $206,000. Cambridge Advisors Inc. bought a new position in Garmin in the 3rd quarter valued at $208,000. Heartland Advisors Inc. bought a new position in Garmin in the 4th quarter valued at $208,000. Garrison Financial Corp bought a new position in Garmin in the 4th quarter valued at $211,000. Finally, Sigma Planning Corp bought a new position in Garmin in the 3rd quarter valued at $241,000. Hedge funds and other institutional investors own 40.57% 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.
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