Garmin (GRMN) Getting Somewhat Positive Media Coverage, Study Shows
Media stories about Garmin (NASDAQ:GRMN) have been trending somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Garmin earned a news impact score of 0.07 on Accern’s scale. Accern also gave news articles about the scientific and technical instruments company an impact score of 45.455947706843 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Garmin Ltd. (GRMN) Raised to Sell at BidaskClub (vothemes.com)
- Institutional Investors Are Buying Garmin LTD (NASDAQ:GRMN) (iphonefresh.com)
- Garmin : reg; introduces the next generation of navigation for professional truck drivers with the dēzl 580 LMT-S (4-traders.com)
- Garmin Sentiment Battered By Fitness and Automotive Business Weakness (baystreet.ca)
- $718.44 Million in Sales Expected for Garmin Ltd. (GRMN) This Quarter (americanbankingnews.com)
Several analysts have recently weighed in on GRMN shares. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, May 4th. Morgan Stanley set a $50.00 price objective on shares of Garmin and gave the stock a “hold” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) raised their price objective on shares of Garmin from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.50.
Shares of Garmin (NASDAQ GRMN) opened at 52.53 on Friday. The company has a 50 day moving average of $51.37 and a 200-day moving average of $51.33. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 14.76 and a beta of 0.86. Garmin has a one year low of $46.05 and a one year high of $55.74.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. The firm had revenue of $816.89 million during the quarter, compared to analyst estimates of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. On average, analysts expect that Garmin will post $2.80 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Thursday, September 14th. Garmin’s payout ratio is 57.46%.
In related news, major shareholder Jonathan Burrell sold 231,500 shares of Garmin stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $51.20, for a total value of $11,852,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sean Biddlecombe sold 1,697 shares of Garmin stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.83, for a total transaction of $87,955.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 765,197 shares of company stock worth $39,501,276. 18.30% of the stock is owned by 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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