Equities analysts expect that Garmin Ltd. (NASDAQ:GRMN) will announce sales of $892.51 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Garmin’s earnings, with the highest sales estimate coming in at $898.10 million and the lowest estimate coming in at $889.29 million. Garmin posted sales of $888.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 20th.

On average, analysts expect that Garmin will report full year sales of $3.31 billion for the current financial year, with estimates ranging from $3.30 billion to $3.33 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.39 billion, with estimates ranging from $3.29 billion to $3.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Garmin.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.24. The firm had revenue of $810.01 million for the quarter, compared to the consensus estimate of $784.06 million. Garmin had a net margin of 19.45% and a return on equity of 16.95%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share.

A number of equities research analysts have issued reports on GRMN shares. Longbow Research set a $75.00 price objective on shares of Garmin and gave the stock a “buy” rating in a research note on Thursday, September 20th. BidaskClub upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Morgan Stanley set a $77.00 price target on shares of Garmin and gave the company an “equal weight” rating in a research note on Friday, September 21st. Finally, Bank of America set a $70.00 price target on shares of Garmin and gave the company a “sell” rating in a research note on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.83.

Shares of Garmin stock opened at $65.03 on Friday. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.60 and a beta of 0.97. Garmin has a 12-month low of $57.01 and a 12-month high of $70.77.

In other news, insider Min H. Kao sold 678,401 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $66.13, for a total value of $44,862,658.13. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Min H. Kao sold 95,814 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $69.70, for a total transaction of $6,678,235.80. Following the completion of the sale, the insider now owns 1,901,429 shares in the company, valued at $132,529,601.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,314,037 shares of company stock worth $149,595,036. 17.85% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. raised its holdings in Garmin by 15.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 5,994 shares of the scientific and technical instruments company’s stock valued at $366,000 after buying an additional 805 shares during the last quarter. Millennium Management LLC raised its holdings in Garmin by 2.5% in the 2nd quarter. Millennium Management LLC now owns 33,946 shares of the scientific and technical instruments company’s stock valued at $2,071,000 after buying an additional 842 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Garmin by 1.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 73,130 shares of the scientific and technical instruments company’s stock valued at $5,123,000 after buying an additional 860 shares during the last quarter. Signaturefd LLC raised its holdings in Garmin by 86.4% in the 3rd quarter. Signaturefd LLC now owns 1,871 shares of the scientific and technical instruments company’s stock valued at $131,000 after buying an additional 867 shares during the last quarter. Finally, Green Square Capital LLC raised its holdings in Garmin by 12.7% in the 2nd quarter. Green Square Capital LLC now owns 7,932 shares of the scientific and technical instruments company’s stock valued at $484,000 after buying an additional 892 shares during the last quarter. Institutional investors and hedge funds own 42.38% of the company’s stock.

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 and Estimates for Garmin (NASDAQ:GRMN)

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