Garmin Ltd. (NASDAQ:GRMN) – Equities researchers at Dougherty & Co upped their FY2017 earnings per share estimates for shares of Garmin in a research report issued on Sunday. Dougherty & Co analyst C. Anderson now forecasts that the scientific and technical instruments company will earn $2.90 per share for the year, up from their prior estimate of $2.80. Dougherty & Co also issued estimates for Garmin’s FY2018 earnings at $2.86 EPS.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The company had revenue of $743.00 million for the quarter, compared to the consensus estimate of $722.00 million. During the same period last year, the business posted $0.75 EPS. The company’s revenue was up 2.9% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/11/16/garmin-ltd-forecasted-to-post-fy2017-earnings-of-2-90-per-share-grmn.html.

Several other research analysts also recently weighed in on GRMN. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. BidaskClub downgraded Garmin from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Thursday, November 2nd. Finally, Morgan Stanley lifted their target price on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Garmin has an average rating of “Hold” and a consensus target price of $56.33.

Garmin (GRMN) opened at $60.29 on Wednesday. Garmin has a 12 month low of $47.03 and a 12 month high of $61.28. The firm has a market capitalization of $11,999.53, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81.

A number of hedge funds have recently modified their holdings of GRMN. Janus Henderson Group PLC raised its holdings in Garmin by 8,318.2% during the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock worth $64,171,000 after purchasing an additional 1,242,578 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Garmin by 117.9% during the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after purchasing an additional 1,205,778 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in Garmin by 3,623.9% during the second quarter. Marshall Wace North America L.P. now owns 732,199 shares of the scientific and technical instruments company’s stock worth $37,343,000 after purchasing an additional 712,537 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Garmin by 123.5% during the second quarter. Principal Financial Group Inc. now owns 1,158,613 shares of the scientific and technical instruments company’s stock worth $59,123,000 after purchasing an additional 640,133 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Garmin by 153.9% during the second quarter. Alliancebernstein L.P. now owns 1,042,380 shares of the scientific and technical instruments company’s stock worth $53,193,000 after purchasing an additional 631,827 shares during the last quarter. 38.01% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Patrick Desbois sold 1,881 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $55.00, for a total value of $103,455.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jonathan Burrell sold 231,500 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 1,298,148 shares of company stock valued at $71,586,406 over the last three months. Insiders own 18.30% of the company’s stock.

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.

Earnings History and Estimates for Garmin (NASDAQ:GRMN)

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