Garmin Ltd. (GRMN) To Go Ex-Dividend on March 13th

Garmin Ltd. (NYSE:GRMN) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Friday, March 13th will be paid a dividend of 0.90 per share by the scientific and technical instruments company on Friday, March 27th. This represents a $3.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, March 13th.

Garmin has raised its dividend payment by an average of 4.4% per year over the last three years. Garmin has a payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Garmin to earn $7.98 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 37.6%.

Garmin Price Performance

Shares of Garmin stock opened at $224.67 on Friday. Garmin has a 1-year low of $131.20 and a 1-year high of $246.50. The business has a 50-day moving average of $213.43 and a 200-day moving average of $195.51. The company has a market capitalization of $43.23 billion, a PE ratio of 30.73, a P/E/G ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 EPS. On average, equities analysts expect that Garmin will post 7.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GRMN shares. Barclays raised their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday. Morgan Stanley raised Garmin to a “sell” rating and boosted their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Tigress Financial lifted their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $206.80.

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s 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 sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.54% of the company’s stock.

Garmin Company Profile

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.