Garmin Ltd. (NASDAQ:GRMN) insider Clifton A. Pemble sold 15,637 shares of Garmin stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $70.00, for a total value of $1,094,590.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ GRMN opened at $69.57 on Thursday. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 2.88 and a beta of 1.03. Garmin Ltd. has a fifty-two week low of $53.45 and a fifty-two week high of $70.75.
Garmin (NASDAQ:GRMN) last released its quarterly earnings data 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 company had revenue of $894.50 million for the quarter, compared to analyst estimates of $844.76 million. Garmin had a return on equity of 15.98% and a net margin of 18.72%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. equities analysts forecast that Garmin Ltd. will post 3.3 EPS for the current fiscal year.
A number of brokerages have recently issued reports on GRMN. BidaskClub raised Garmin from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 18th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Morgan Stanley set a $77.00 price target on Garmin and gave the stock an “equal weight” rating in a research note on Friday, September 21st. Finally, Longbow Research set a $75.00 price target on Garmin and gave the stock a “buy” rating in a research note on Thursday, September 20th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $67.40.
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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