Media coverage about Garmin (NASDAQ:GRMN) has trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Garmin earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news articles about the scientific and technical instruments company an impact score of 67 out of 100, indicating that recent press coverage is likely to have an effect on the company’s share price in the near future.
These are some of the news articles that may have effected Accern’s analysis:
- Norsat International (NSAT) versus Garmin (GRMN) Head-To-Head Review (americanbankingnews.com)
- Garmin Ltd (GRMN) TE Moving Average in the Spotlight – Evergreen Caller (evergreencaller.com)
- Garmin Introduces The Rino 700, A Budget-Friendly, Powerful Five-Watt Two-Way Handheld Radio – Field Technologies Online (press release) (fieldtechnologiesonline.com)
- Garmin Ltd. (GRMN) Set to Announce Earnings on Wednesday (americanbankingnews.com)
- Garmin Ltd (GRMN) VMA Trending Higher Over Last Sessions – Evergreen Caller (evergreencaller.com)
Garmin (GRMN) traded down 1.08% during mid-day trading on Friday, hitting $51.32. 773,323 shares of the stock traded hands. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 14.66 and a beta of 0.87. Garmin has a 1-year low of $46.05 and a 1-year high of $56.19. The stock has a 50-day moving average of $51.29 and a 200 day moving average of $50.89.
Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $629.11 million. Garmin had a net margin of 21.78% and a return on equity of 15.86%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, equities analysts expect that Garmin will post $2.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, September 14th. Garmin’s payout ratio is currently 58.45%.
A number of research analysts recently commented on GRMN shares. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, May 4th. Bank of America Corporation raised their price objective on shares of Garmin from $47.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, May 4th. J P Morgan Chase & Co downgraded shares of Garmin from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $55.00 to $50.00 in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Garmin from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. Finally, Tigress Financial started coverage on shares of Garmin in a research report on Tuesday, May 2nd. They set a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, six have assigned 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 price target of $50.71.
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In related news, major shareholder Jonathan Burrell sold 200,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $52.11, for a total value of $10,422,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 400,000 shares of company stock valued at $20,891,000 in the last ninety days. Corporate 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.
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