Garmin Ltd. (NASDAQ:GRMN) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of ~$2.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.68. The company issued revenue guidance of ~$3.04 billion, compared to the consensus revenue estimate of $3.01 billion.

Shares of Garmin Ltd. (NASDAQ GRMN) traded down 0.16% during mid-day trading on Friday, hitting $51.21. The stock had a trading volume of 918,377 shares. Garmin Ltd. has a 12 month low of $46.05 and a 12 month high of $55.74. The stock’s 50-day moving average is $51.24 and its 200 day moving average is $51.14. The company has a market cap of $9.61 billion, a PE ratio of 14.39 and a beta of 0.86.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The company had revenue of $816.89 million during the quarter, compared to analyst estimates of $806.67 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Thursday, September 14th. Garmin’s payout ratio is presently 57.46%.

A number of equities analysts recently commented on GRMN shares. Tigress Financial started coverage on Garmin in a research note on Tuesday, May 2nd. They set a buy rating for the company. J P Morgan Chase & Co lowered Garmin from a neutral rating to an underweight rating and dropped their price target for the company from $55.00 to $50.00 in a research note on Thursday, May 4th. Goldman Sachs Group, Inc. (The) increased their price target on Garmin from $52.00 to $54.00 and gave the company a neutral rating in a research note on Thursday, May 4th. Zacks Investment Research raised Garmin from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Thursday, May 4th. Finally, Bank of America Corporation raised their price objective on Garmin from $47.00 to $50.00 and gave the company an underperform rating in a research note on Thursday, May 4th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $51.21.

In other news, insider Sean Biddlecombe sold 1,697 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.83, for a total value of $87,955.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Jonathan Burrell sold 200,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $52.11, for a total value of $10,422,000.00. The disclosure for this sale can be found here. Insiders sold a total of 401,697 shares of company stock valued at $20,978,956 over the last ninety days. Corporate insiders own 18.30% of the company’s stock.

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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.

Earnings History and Estimates for Garmin (NASDAQ:GRMN)

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