Garmin (NASDAQ:GRMN) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of approx $3.45 for the period, compared to the Thomson Reuters consensus estimate of $3.31. The company issued revenue guidance of approx $3.30 billion, compared to the consensus revenue estimate of $3.30 billion.Garmin also updated its FY 2018 guidance to $3.45-3.45 EPS.
GRMN traded up $3.11 during trading on Wednesday, hitting $66.16. The stock had a trading volume of 3,126,075 shares, compared to its average volume of 1,073,717. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 2.55 and a beta of 0.99. Garmin has a twelve month low of $56.21 and a twelve month high of $70.77.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.12. The company had revenue of $894.50 million during the quarter, compared to the consensus estimate of $844.76 million. Garmin had a net margin of 18.72% and a return on equity of 15.98%. Garmin’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. As a group, research analysts anticipate that Garmin will post 3.3 earnings per share for the current fiscal year.
In related news, insider Min H. Kao sold 606,873 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $65.10, for a total transaction of $39,507,432.30. Following the completion of the transaction, the insider now owns 1,901,429 shares of the company’s stock, valued at $123,783,027.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Min H. Kao sold 400,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $64.11, for a total transaction of $25,644,000.00. Following the transaction, the insider now directly owns 4,081,102 shares of the company’s stock, valued at approximately $261,639,449.22. The disclosure for this sale can be found here. Insiders have sold 4,151,036 shares of company stock valued at $267,167,426 over the last quarter. Insiders own 17.85% of the company’s stock.
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.
Further Reading: What does the Dow Jones Industrial Average (DJIA) measure?
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.