Garmin Ltd (GRMN): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Recently, Yahoo Finance discussed the stock, revealing that Garmin Ltd. schedules fourth quarter 2023 earnings call.

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Stocks Info

This NYSE-listed company operates within the Scientific & Technical Instruments industry segment, falling under the Technology sector. The current market capitalization of Garmin Ltd is $23.60B. A total of 0.69 million shares were traded on the day, compared to an average of 776.51K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, GRMN has seen 0 BUY and 1 SELL insider trades, representing the acquisition of 0 and the disposition of 5,000 shares. Over the last 12 months, there were 15 BUYs and 40 SELLs from insiders. Insiders purchased 9,132,450 shares during that period but sold 9,416,757.

In the most recent transaction, PEMBLE CLIFTON A sold 1,095 shares of GRMN for 125.89 per share on Dec 18. After the transaction, the President and CEO now owns 130,365 company shares. In a previous transaction on Nov 15, PEMBLE CLIFTON A sold 5,000 shares at 120.00 per share. GRMN shares that President and CEO owns now total 115,629.

Among the insiders who sold shares, Wang Cheng-Wei disposed of 4,794 shares on Sep 05 at a per-share price of $105.62. This resulted in the General Manager – Garmin Corp. holding 44,808 shares of GRMN after the transaction. In another insider transaction, Biddlecombe Sean sold 857 shares at $106.02 per share on Aug 04. Company shares held by the Managing Director, EMEA now total 4,834.

Dividend

The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. Garmin Ltd pays an annual dividend of $2.96, resulting in a dividend yield of 2.40%, and it has a price to earnings (P/E) ratio of 22.74. GRMN’s most recent ex-dividend date was 3/14/2024 when it declared a $0.73 quarterly dividend that was paid in cash on 3/29/2024. Previously, the company paid the dividend on 12/29/2023 with an ex-dividend date of 12/14/2023. The GRMN stock dividend was $0.73 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for GRMN in the last 3 months, the mean price target is $120.53 with high estimates of $135.00 and low estimates of $100.00. In terms of 52-week highs and lows, GRMN has a high of $129.32 and a low of $93.22.

As of this writing, GRMN has an earnings estimate of $1.39 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of $1.48 per share and a lower estimate of $1.37. The company reported an EPS of $1.45 in the last quarter, which was 2.80% higher than expectations of $1.41.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. GRMN’s latest balance sheet shows that the firm has $1.85B in Cash & Short Term Investments as of fiscal 2021. There were $70.04M in debt and $1.45B in liabilities at the time. Its Book Value Per Share was $33.18, while its Total Shareholder’s Equity was $6.11B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for GRMN is Buy with a score of 3.33.

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