Garmin Ltd. to Issue Quarterly Dividend of $0.51 (GRMN)
Garmin Ltd. (NASDAQ:GRMN) declared a quarterly dividend on Wednesday, July 5th, NASDAQ reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.51 per share by the scientific and technical instruments company on Friday, December 29th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, December 14th.
Garmin (NASDAQ GRMN) traded up $1.00 on Friday, hitting $62.27. The stock had a trading volume of 965,434 shares, compared to its average volume of 979,675. The stock has a market cap of $11,488.13, a PE ratio of 21.27, a PEG ratio of 2.53 and a beta of 0.84. Garmin has a 52 week low of $47.03 and a 52 week high of $63.15.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. The company had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. equities analysts expect that Garmin will post 2.9 EPS for the current fiscal year.
GRMN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Thursday, November 2nd. BidaskClub cut Garmin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Morgan Stanley lifted their price objective on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of Garmin in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Garmin currently has an average rating of “Hold” and an average target price of $56.33.
In other news, EVP Patrick Desbois sold 1,881 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $55.00, for a total value of $103,455.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jonathan Burrell sold 254,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total value of $15,862,300.00. The disclosure for this sale can be found here. Insiders have sold 1,572,188 shares of company stock valued at $90,877,763 in the last quarter. 18.30% of the stock is owned by company insiders.
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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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