Garmin Ltd. Announces Quarterly Dividend of $0.90 (NYSE:GRMN)

by · The Cerbat Gem

Garmin Ltd. (NYSE:GRMN – Get Free Report) announced a quarterly dividend on Wednesday, February 19th. Stockholders of record on Friday, December 12th will be given a dividend of 0.90 per share by the scientific and technical instruments company on Friday, December 26th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, December 12th.

Garmin has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Garmin has a payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Garmin to earn $7.98 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 45.1%.

Garmin Stock Performance

Shares of GRMN opened at $202.91 on Wednesday. The company has a 50 day moving average price of $220.62 and a 200-day moving average price of $222.26. Garmin has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The stock has a market capitalization of $39.03 billion, a PE ratio of 24.97, a PEG ratio of 2.28 and a beta of 1.01.

Garmin (NYSE:GRMN – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. Garmin’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities research analysts forecast that Garmin will post 7.8 EPS for the current year.

Analyst Ratings Changes

GRMN has been the subject of a number of analyst reports. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Morgan Stanley lifted their price objective on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial increased their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Barclays raised their target price on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $241.60.

View Our Latest Analysis on Garmin

Garmin Company Profile

(Get Free Report)

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.

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