Garmin Ltd. (NYSE:GRMN) Announces Quarterly Dividend of $0.90

Garmin Ltd. (NYSE:GRMN) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Friday, September 12th will be paid a dividend of 0.90 per share by the scientific and technical instruments company on Friday, September 26th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th.

Garmin has a dividend payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Garmin to earn $7.98 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 45.1%.

Garmin Trading Down 0.4%

Shares of Garmin stock opened at $238.59 on Wednesday. The company has a fifty day moving average price of $228.79 and a 200 day moving average price of $212.20. Garmin has a twelve month low of $160.94 and a twelve month high of $246.50. The stock has a market cap of $45.93 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Analysts forecast that Garmin will post 7.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Garmin from $172.00 to $186.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Barclays reiterated an “underweight” rating and set a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $222.00.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.