Garmin Ltd (GRMN) Looks Set To Grow At A Great Clip In 2024

Garmin Ltd (NYSE:GRMN) has a beta value of 1.01 and has seen 0.56 million shares traded in the recent trading session. The company, currently valued at $31.16B, closed the recent trade at $162.21 per share which meant it lost -$8.52 on the day or -4.99% during that session. The GRMN stock price is -5.81% off its 52-week high price of $171.64 and 38.59% above the 52-week low of $99.61. The 3-month trading volume is 977.21K shares.

Garmin Ltd (NYSE:GRMN) trade information

Sporting -4.99% in the red today, the stock has traded in the red over the last five days, when the GRMN stock price touched $162.21 or saw a rise of 5.49%. Year-to-date, Garmin Ltd shares have moved 26.19%, while the 5-day performance has seen it change -4.89%. Over the past 30 days, the shares of Garmin Ltd (NYSE:GRMN) have changed 13.82%.

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Garmin Ltd (GRMN) estimates and forecasts

Figures show that Garmin Ltd shares have underperformed across the wider relevant industry. The company’s shares have gained 35.10% over the past 6 months, with this year growth rate of -0.18%, compared to 2.00% for the industry. Revenue growth from the last financial year stood is estimated to be 12.00%.

3 analysts offering their estimates for the company have set an average revenue estimate of 1.41B for the current quarter. 3 have an estimated revenue figure of 1.41B for the next ending quarter. Year-ago sales stood 1.32B and 1.28B respectively for this quarter and the next, and analysts expect sales will grow by 7.00% for the current quarter and 12.00% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 12.90% over the past 5 years. Earnings growth for 2024 is a modest 3.94% while over the next 5 years, the company’s earnings are expected to increase by 5.60%.

GRMN Dividends

Garmin Ltd is expected to release its next earnings report in June this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 2.92 at a share yield of 1.80%. The company’s dividend yield has gone up over the past 12 months.