$668.76 Million in Sales Expected for Garmin Ltd. (GRMN) This Quarter
Equities research analysts expect Garmin Ltd. (NASDAQ:GRMN) to announce $668.76 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Garmin’s earnings, with the highest sales estimate coming in at $679.15 million and the lowest estimate coming in at $659.30 million. Garmin posted sales of $638.55 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The company is scheduled to report its next earnings report before the market opens on Wednesday, May 2nd.
According to Zacks, analysts expect that Garmin will report full year sales of $3.20 billion for the current financial year, with estimates ranging from $3.17 billion to $3.21 billion. For the next fiscal year, analysts expect that the company will report sales of $3.26 billion per share, with estimates ranging from $3.22 billion to $3.34 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Garmin.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $872.73 million. During the same quarter last year, the company earned $0.73 earnings per share. Garmin’s quarterly revenue was up 3.2% compared to the same quarter last year.
Garmin stock opened at $59.30 on Friday. Garmin has a one year low of $48.50 and a one year high of $65.96. The firm has a market capitalization of $11,692.51, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.32 and a beta of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 18th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.58%. This is an increase from Garmin’s previous quarterly dividend of $0.51. Garmin’s payout ratio is 69.39%.
In related news, insider Min H. Kao sold 262,611 shares of Garmin stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $60.04, for a total transaction of $15,767,164.44. Following the completion of the sale, the insider now owns 8,760,554 shares in the company, valued at approximately $525,983,662.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Andrew R. Etkind sold 1,929 shares of Garmin stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $60.61, for a total value of $116,916.69. The disclosure for this sale can be found here. Insiders have sold a total of 465,453 shares of company stock valued at $28,134,625 in the last ninety days. Corporate insiders own 18.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. increased its position in Garmin by 908.8% during the 4th quarter. James Investment Research Inc. now owns 28,500 shares of the scientific and technical instruments company’s stock worth $1,698,000 after purchasing an additional 25,675 shares in the last quarter. Creative Planning grew its holdings in Garmin by 18.9% in the 4th quarter. Creative Planning now owns 15,711 shares of the scientific and technical instruments company’s stock valued at $936,000 after buying an additional 2,501 shares during the period. AXA purchased a new stake in Garmin in the 4th quarter valued at about $370,000. Garrison Financial Corp purchased a new stake in Garmin in the 4th quarter valued at about $211,000. Finally, Conning Inc. purchased a new stake in Garmin in the 4th quarter valued at about $644,000. Hedge funds and other institutional investors own 39.33% of the company’s stock.
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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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