The Time Is Right To Purchase Garmin Ltd. (NASDAQ: GRMN) – Marketing Sentinel
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The Time Is Right To Purchase Garmin Ltd. (NASDAQ: GRMN)

During the last session, Garmin Ltd. (NASDAQ:GRMN)’s traded shares were 0.65 million, with the beta value of the company hitting 1.00. At the end of the trading day, the stock’s price was $176.11, reflecting an intraday gain of 0.24% or $0.43. The 52-week high for the GRMN share is $178.80, that puts it down -1.53 from that peak though still a striking 47.85% gain since the share price plummeted to a 52-week low of $91.84. The company’s market capitalization is $33.30B, and the average intraday trading volume over the past 10 days was 0.63 million shares, and the average trade volume was 554.80K shares over the past three months.

Garmin Ltd. (GRMN) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.50. GRMN has a Sell rating from 1 analyst(s) out of 9 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.25.

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Garmin Ltd. (NASDAQ:GRMN) trade information

Garmin Ltd. (GRMN) registered a 0.24% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.24% in intraday trading to $176.11 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is 0.14%, and it has moved by 7.46% in 30 days. Based on these gigs, the overall price performance for the year is 73.83%. The short interest in Garmin Ltd. (NASDAQ:GRMN) is 1.91 million shares and it means that shorts have 2.79 day(s) to cover.

The consensus price target of analysts on Wall Street is $164.83, which implies a decrease of -6.84% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $147.00 and $180.00 respectively. As a result, GRMN is trading at a discount of -2.21% off the target high and 16.53% off the low.

Garmin Ltd. (GRMN) estimates and forecasts

Statistics show that Garmin Ltd. has underperformed its competitors in share price, compared to the industry in which it operates. Garmin Ltd. (GRMN) shares have gone up 43.74% during the last six months, with a year-to-date growth rate less than the industry average at 8.95% against 24.10. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to shrink -20.90% this quarter and then drop -13.30% in the quarter after that. In the rating firms’ projections, revenue will increase 18.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.15 billion as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $1.38 billion by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.11 billion and $1.35 billion respectively. In this case, analysts expect current quarter sales to grow by 3.40% and then jump by 2.20% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 16.70%. While earnings are projected to return 3.60% in 2021, the next five years will return 8.46% per annum.

GRMN Dividends

Garmin Ltd. is due to release its next quarterly earnings between October 26 and November 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Garmin Ltd. is 2.68, with the dividend yield indicating at 1.52 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 3.01%.

Garmin Ltd. (NASDAQ:GRMN)’s Major holders

Garmin Ltd. insiders own 21.00% of total outstanding shares while institutional holders control 54.48%, with the float percentage being 68.96%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 979 institutions own stock in it. As of Mar 30, 2021, the company held over 16.43 million shares (or 8.29% of all shares), a total value of $2.17 billion in shares.

The next largest institutional holding, with 13.02 million shares, is of Blackrock Inc.’s that is approximately 6.58% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $1.72 billion.

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Also, the Mutual Funds coming in first place with the largest holdings of Garmin Ltd. (GRMN) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Mar 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 4.32 million shares. This amounts to just over 2.18 percent of the company’s overall shares, with a $569.62 million market value. The same data shows that the other fund manager holds slightly less at 3.44 million, or about 1.74% of the stock, which is worth about $453.65 million.

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