Garmin Ltd. (GRMN) To Go Ex-Dividend on September 14th
Garmin Ltd. (NASDAQ:GRMN) announced a quarterly dividend on Wednesday, July 5th, Zacks reports. Investors of record on Friday, September 15th will be given a dividend of 0.51 per share by the scientific and technical instruments company on Friday, September 29th. This represents a $2.04 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, September 14th.
Shares of Garmin (NASDAQ GRMN) opened at 52.01 on Wednesday. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 14.61 and a beta of 0.85. The company has a 50-day moving average of $51.71 and a 200 day moving average of $51.43. Garmin has a 12-month low of $46.05 and a 12-month high of $55.74.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The firm had revenue of $816.89 million during the quarter, compared to the consensus estimate of $806.67 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. Analysts predict that Garmin will post $2.80 earnings per share for the current year.
In other news, major shareholder Jonathan Burrell sold 127,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $52.25, for a total value of $6,635,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Biddlecombe sold 1,697 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.83, for a total value of $87,955.51. The disclosure for this sale can be found here. Insiders sold 596,110 shares of company stock valued at $30,696,364 over the last three months. 18.30% of the stock is currently owned by corporate insiders.
GRMN has been the subject of a number of analyst reports. Longbow Research reissued a “buy” rating on shares of Garmin in a report on Thursday, August 3rd. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Monday, July 10th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. BidaskClub downgraded Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Morgan Stanley set a $50.00 price target on Garmin and gave the company a “hold” rating in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.50.
Garmin Company Profile
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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