Garmin (NASDAQ:GRMN) released its earnings results on Wednesday. The scientific and technical instruments company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.38 by $0.53, MarketWatch Earnings reports. Garmin had a net margin of 25.30% and a return on equity of 19.38%. The firm had revenue of $870.00 million for the quarter, compared to analyst estimates of $666.68 million. During the same period last year, the firm earned $1.16 EPS. The business’s quarterly revenue was down 8.9% compared to the same quarter last year.

NASDAQ GRMN traded up $0.72 during trading hours on Thursday, reaching $99.50. The company’s stock had a trading volume of 450,632 shares, compared to its average volume of 871,196. The company has a current ratio of 3.75, a quick ratio of 2.74 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $97.05 and a 200 day simple moving average of $89.14. Garmin has a 52 week low of $61.04 and a 52 week high of $105.58. The stock has a market cap of $19.01 billion, a PE ratio of 19.37, a PEG ratio of 4.20 and a beta of 0.99.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $2.44 annualized dividend and a dividend yield of 2.45%. Garmin’s payout ratio is 54.83%.

In other Garmin news, CEO Clifton A. Pemble sold 14,720 shares of the firm’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $99.91, for a total value of $1,470,675.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Munn sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.84, for a total transaction of $121,260.00. The disclosure for this sale can be found here. Insiders sold 20,038 shares of company stock worth $1,954,454 in the last three months. 22.00% of the stock is currently owned by corporate insiders.

Several equities analysts have commented on GRMN shares. Needham & Company LLC started coverage on shares of Garmin in a report on Wednesday. They issued a “hold” rating on the stock. BidaskClub upgraded shares of Garmin from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. Cfra cut their price objective on shares of Garmin from $104.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Thursday, May 28th. Finally, Zacks Investment Research raised shares of Garmin from a “sell” rating to a “hold” rating and set a $91.00 price objective on the stock in a report on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $95.29.

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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