Analysts Offer Predictions for Garmin Ltd.’s Q3 2018 Earnings (GRMN)

Share on StockTwits

Garmin Ltd. (NASDAQ:GRMN) – Analysts at Dougherty & Co issued their Q3 2018 earnings estimates for Garmin in a report issued on Thursday, August 2nd, Zacks Investment Research reports. Dougherty & Co analyst C. Anderson forecasts that the scientific and technical instruments company will post earnings per share of $0.78 for the quarter. Dougherty & Co also issued estimates for Garmin’s FY2018 earnings at $3.30 EPS and FY2019 earnings at $3.39 EPS.

A number of other analysts also recently weighed in on the stock. Longbow Research set a $72.00 target price on shares of Garmin and gave the stock a “buy” rating in a research report on Thursday, July 19th. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Wednesday, May 30th. Finally, ValuEngine downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.80.

NASDAQ:GRMN opened at $63.54 on Monday. The stock has a market capitalization of $12.64 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.63 and a beta of 0.96. Garmin has a 1-year low of $50.85 and a 1-year high of $65.96.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The firm had revenue of $894.50 million for 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%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS.

In related news, insider Min H. Kao sold 392,951 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $64.36, for a total value of $25,290,326.36. Following the transaction, the insider now owns 2,597,695 shares in the company, valued at approximately $167,187,650.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Min H. Kao sold 301,128 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $59.25, for a total transaction of $17,841,834.00. Following the completion of the transaction, the insider now owns 6,232,074 shares in the company, valued at approximately $369,250,384.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,038,564 shares of company stock worth $253,359,363. 17.85% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in GRMN. Global X Management Co. LLC boosted its stake in Garmin by 18.0% in the 1st quarter. Global X Management Co. LLC now owns 124,403 shares of the scientific and technical instruments company’s stock worth $7,331,000 after purchasing an additional 18,934 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Garmin by 10.4% in the 1st quarter. Wells Fargo & Company MN now owns 227,952 shares of the scientific and technical instruments company’s stock worth $13,432,000 after purchasing an additional 21,381 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Garmin by 60.6% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 64,935 shares of the scientific and technical instruments company’s stock worth $3,764,000 after purchasing an additional 24,503 shares in the last quarter. Alps Advisors Inc. boosted its stake in Garmin by 74.3% in the 1st quarter. Alps Advisors Inc. now owns 9,755 shares of the scientific and technical instruments company’s stock worth $575,000 after purchasing an additional 4,158 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Garmin by 3.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 464,717 shares of the scientific and technical instruments company’s stock worth $27,386,000 after purchasing an additional 13,655 shares in the last quarter. Institutional investors own 37.98% of the company’s stock.

Garmin Company Profile

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.

Read More: NASDAQ

Get a free copy of the Zacks research report on Garmin (GRMN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Garmin (NASDAQ:GRMN)

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.