Garmin Ltd. (NASDAQ:GRMN) declared a quarterly dividend on Wednesday, December 4th, Wall Street Journal reports. Shareholders of record on Monday, March 16th will be paid a dividend of 0.57 per share by the scientific and technical instruments company on Tuesday, March 31st. This represents a $2.28 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, March 13th.
Garmin stock traded up $0.01 during mid-day trading on Wednesday, reaching $96.50. 20,429 shares of the company traded hands, compared to its average volume of 1,008,481. Garmin has a 52-week low of $59.98 and a 52-week high of $98.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.93. The firm’s 50 day moving average price is $93.29 and its 200 day moving average price is $83.73. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 3.20 and a beta of 0.91.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.32. The firm had revenue of $934.38 million for the quarter, compared to the consensus estimate of $869.02 million. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. On average, sell-side analysts anticipate that Garmin will post 4.16 EPS for the current year.
Several analysts recently weighed in on GRMN shares. BidaskClub upgraded Garmin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their price objective on Garmin from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Garmin has an average rating of “Hold” and an average price target of $81.19.
In other Garmin news, Chairman Min H. Kao sold 85,229 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $87.32, for a total transaction of $7,442,196.28. Following the sale, the chairman now directly owns 1,644,429 shares of the company’s stock, valued at $143,591,540.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 2,726 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $93.58, for a total value of $255,099.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,048,640 shares of company stock valued at $97,210,169. 23.83% of the stock is currently owned by corporate insiders.
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.
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