Analysts expect Garmin Ltd. (NASDAQ:GRMN) to post earnings per share of $0.88 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Garmin’s earnings. The highest EPS estimate is $0.93 and the lowest is $0.81. Garmin also reported earnings of $0.88 per share during the same quarter last year. The firm is scheduled to issue its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Garmin will report full year earnings of $3.14 per share for the current year, with EPS estimates ranging from $3.05 to $3.27. For the next year, analysts anticipate that the company will post earnings of $3.24 per share, with EPS estimates ranging from $3.10 to $3.40. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Garmin.
Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $670.71 million. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS.
Shares of Garmin traded up $0.11, reaching $60.23, on Tuesday, MarketBeat.com reports. 945,959 shares of the company were exchanged, compared to its average volume of 754,531. The stock has a market capitalization of $11.33 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 2.29 and a beta of 0.99. Garmin has a one year low of $49.80 and a one year high of $65.96.
In related news, Chairman Min H. Kao sold 50,000 shares of the firm’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $58.37, for a total value of $2,918,500.00. Following the transaction, the chairman now owns 8,303,783 shares of the company’s stock, valued at approximately $484,691,813.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Min H. Kao sold 111,457 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $60.06, for a total transaction of $6,694,107.42. Following the completion of the transaction, the insider now directly owns 8,507,347 shares in the company, valued at approximately $510,951,260.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,092,381 shares of company stock worth $185,712,525. 17.85% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GRMN. Victory Capital Management Inc. lifted its position in Garmin by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 15,359 shares of the scientific and technical instruments company’s stock valued at $915,000 after acquiring an additional 1,175 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Garmin by 232.3% in the 4th quarter. Teacher Retirement System of Texas now owns 53,612 shares of the scientific and technical instruments company’s stock valued at $3,194,000 after buying an additional 37,477 shares during the last quarter. California Public Employees Retirement System increased its stake in Garmin by 2.2% in the 4th quarter. California Public Employees Retirement System now owns 356,379 shares of the scientific and technical instruments company’s stock valued at $21,229,000 after buying an additional 7,722 shares during the last quarter. Keybank National Association OH purchased a new stake in Garmin in the 4th quarter valued at about $889,000. Finally, First Trust Advisors LP increased its stake in Garmin by 8.6% in the 4th quarter. First Trust Advisors LP now owns 606,447 shares of the scientific and technical instruments company’s stock valued at $36,126,000 after buying an additional 48,101 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.