Garmin (NASDAQ:GRMN) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $3.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.52. The company issued revenue guidance of $3.50 billion, compared to the consensus revenue estimate of $3.43 billion.Garmin also updated its FY 2019 guidance to $3.70-3.70 EPS.
Several equities research analysts have issued reports on GRMN shares. BidaskClub upgraded Garmin from a buy rating to a strong-buy rating in a report on Wednesday, February 13th. ValuEngine downgraded Garmin from a buy rating to a hold rating in a report on Tuesday. Bank of America set a $70.00 price objective on Garmin and gave the stock a sell rating in a report on Thursday, November 15th. Finally, Morgan Stanley dropped their price objective on Garmin from $77.00 to $70.00 and set an equal weight rating on the stock in a report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $68.40.
Shares of GRMN opened at $70.97 on Wednesday. The company has a market capitalization of $14.19 billion, a PE ratio of 24.14, a PEG ratio of 2.79 and a beta of 0.94. Garmin has a 52 week low of $57.01 and a 52 week high of $71.89.
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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