Garmin Ltd. (NYSE:GRMN) to Issue Quarterly Dividend of $1.05

Garmin Ltd. (NYSE:GRMN) announced a quarterly dividend on Wednesday, February 18th. Stockholders of record on Friday, December 11th will be given a dividend of 1.05 per share by the scientific and technical instruments company on Thursday, December 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, December 11th.

Garmin has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 8 years. Garmin has a payout ratio of 42.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Garmin to earn $7.98 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 45.1%.

Garmin Stock Performance

Shares of GRMN stock traded up $20.25 during trading on Wednesday, hitting $237.23. The company had a trading volume of 3,049,791 shares, compared to its average volume of 1,040,975. The firm has a market capitalization of $45.63 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00. Garmin has a one year low of $169.26 and a one year high of $261.69. The stock’s 50-day moving average price is $206.83 and its 200 day moving average price is $220.21.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.40. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts anticipate that Garmin will post 7.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GRMN. Barclays raised Garmin from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $208.00 to $217.00 in a research note on Friday, January 16th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Morgan Stanley increased their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.40.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.