Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Garmin (GRMN) Stock Price

Media coverage about Garmin (NASDAQ:GRMN) has been trending somewhat positive recently, Accern reports. The research group identifies negative and positive media coverage by monitoring more than twenty million news and blog 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 coverage optimism score of 0.15 on Accern’s scale. Accern also gave media headlines about the scientific and technical instruments company an impact score of 46.5459454359833 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

Here are some of the news stories that may have impacted Accern’s analysis:

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Several equities research analysts recently commented on GRMN shares. BidaskClub cut Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Credit Suisse Group reissued an “underperform” rating and set a $58.00 target price (up previously from $48.00) on shares of Garmin in a report on Tuesday, December 12th. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Friday, December 15th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Garmin has an average rating of “Hold” and a consensus target price of $57.00.

NASDAQ GRMN opened at $58.93 on Friday. The firm has a market capitalization of $11,530.09, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.29 and a beta of 0.97. Garmin has a 1 year low of $48.50 and a 1 year high of $65.96.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The company had revenue of $888.49 million for the quarter, compared to analysts’ expectations of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. equities research analysts forecast that Garmin will post 3.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Monday, June 18th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.60%. This is a boost from Garmin’s previous quarterly dividend of $0.51. Garmin’s dividend payout ratio is currently 55.43%.

In other Garmin news, VP Andrew R. Etkind sold 1,929 shares of Garmin stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $60.61, for a total transaction of $116,916.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Min H. Kao sold 262,611 shares of Garmin stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $60.04, for a total transaction of $15,767,164.44. Following the transaction, the insider now owns 8,760,554 shares in the company, valued at $525,983,662.16. The disclosure for this sale can be found here. Insiders sold 465,453 shares of company stock worth $28,134,625 in the last ninety days. 18.30% of the stock is owned by corporate insiders.

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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.

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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