Garmin (GRMN) to Release Quarterly Earnings on Wednesday

Garmin (NYSE:GRMN) is projected to announce its earnings results before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of $1.90 per share and revenue of $1.69 billion for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Garmin Stock Performance

NYSE GRMN opened at $211.46 on Wednesday. Garmin has a one year low of $120.06 and a one year high of $223.33. The firm has a 50 day simple moving average of $213.16 and a 200-day simple moving average of $192.91. The firm has a market cap of $40.60 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.33 and a beta of 0.98.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GRMN shares. Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Barclays upped their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $171.00.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.