Garmin (GRMN) Earning Somewhat Favorable Media Coverage, Study Finds
News headlines about Garmin (NASDAQ:GRMN) have been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Garmin earned a coverage optimism score of 0.01 on Accern’s scale. Accern also gave news stories about the scientific and technical instruments company an impact score of 44.0004157084836 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media headlines that may have effected Accern’s rankings:
- Garmin® Confirms September 29 Dividend Payment (finance.yahoo.com)
- Mastercard Enables Garmin Users To Run and Shop At A Perfect Pace (webwire.com)
- Apple (AAPL) Enters Bidding Race for Toshiba’s Chip Business – Yahoo Finance (finance.yahoo.com)
- NXT-ID Subsidiary FitPay to Power Garmin PayTM on Garmin® vívoactive® 3 Smartwatch (paymentweek.com)
- Garmin announces three new wearables, and Garmin Pay for NFC payments (androidpolice.com)
Garmin (NASDAQ:GRMN) opened at 51.82 on Friday. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 14.56 and a beta of 0.86. The stock has a 50 day moving average of $51.54 and a 200 day moving average of $51.41. Garmin has a one year low of $46.05 and a one year high of $55.74.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $0.87 earnings per share. Equities research analysts predict that Garmin will post $2.80 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, September 14th. Garmin’s dividend payout ratio is currently 57.46%.
A number of analysts have commented on GRMN shares. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday, July 19th. They noted that the move was a valuation call. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Monday, July 10th. Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Morgan Stanley set a $50.00 target price on shares of Garmin and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, BidaskClub raised shares of Garmin from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.50.
In related news, insider Sean Biddlecombe sold 1,697 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.83, for a total transaction of $87,955.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jonathan Burrell sold 231,500 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $51.20, for a total transaction of $11,852,800.00. The disclosure for this sale can be found here. Insiders have sold 465,197 shares of company stock valued at $23,856,276 over the last quarter. Corporate insiders own 18.30% 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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