A solid portfolio of new products across segments, secular drivers in the aviation market and contributions from acquisitions are positives.
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Other equities analysts have also recently issued reports about the stock. Raymond James Financial Inc. reissued a buy rating on shares of Garmin in a research note on Friday, June 10th. JPMorgan Chase & Co. upgraded shares of Garmin from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $38.00 to $47.00 in a research report on Thursday. The company presently has a consensus rating of Hold and an average target price of $41.04.
A number of other brokerages also recently commented on GRMN.
Over the past month, the stock has witnessed only one estimate revision for the second quarter 2016. Garmin’s quarterly revenue was up 4.9% on a year-over-year basis. The stock’s institutional ownership stands at 39.90%. Euclid Advisors LLC boosted its stake in shares of Garmin by 3.0% in the first quarter. 3 Months Ago, the stock has been rated as “Buy” from 2 Analysts. Stock value has moved between USD22.71 – USD43.60 in last one year.
Garmin Ltd.’s (GRMN) price volatility for a month noted as 1.72% however its price volatility for a week documented as 1.76%. 56,479 shares of the company’s stock were exchanged. The company has a market capitalization of $8.78 billion and a PE ratio of 18.53. Garmin Ltd. has a 52-week low of 30.93 and a 52-week high of 52.14.
Garmin reported actual earnings last quarter of. Analysts had expected the company to report earnings of 67 cents a share on $763 million in revenue, according to a Thomson Reuters consensus estimate.
The company posted pro forma earnings of 87 cents a share on revenues of $812 million.
Total operating expenses in the quarter were $262 million, a 4 percent increase from the prior year.
Garmin expects full-year earnings to be $2.50 per share, with revenue expected to be $2.9 billion. The stock was sold at an average price of $40.68, for a total transaction of $292,896.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
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Garmin Ltd. shares rallied Wednesday as the maker of navigation devices continued to expand into wearables for fitness and outdoor use.
