Garmin Ltd. (GRMN) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.49 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.42. The company posted revenue of $624.00 million in the period, compared to analysts expectations of $586.43 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.
Many Wall Street Analysts have commented on Garmin Ltd.. Garmin Ltd. was Downgraded by JP Morgan to ” Underweight” on Feb 18, 2016.
Garmin Ltd. opened for trading at $42.38 and hit $42.87 on the upside on Friday, eventually ending the session at $42.71, with a gain of 1.11% or 0.47 points. The heightened volatility saw the trading volume jump to 10,62,448 shares. Company has a market cap of $8,887 M.
In a different news, on Dec 16, 2015, Clifton A Pemble (President and CEO) sold 2,026 shares at $34.87 per share price. According to the SEC, on Dec 8, 2015, Philip Straub (VP, Man. Director – Aviation) sold 1,914 shares at $37.92 per share price. On Nov 12, 2015, Danny J Bartel (VP, Worldwide Sales) sold 1,125 shares at $37.74 per share price, according to the Form-4 filing with the securities and exchange commission.
Garmin Ltd. (Garmin) is a provider of navigation communications and information devices which are enabled by Global Positioning System (GPS) technology. The Company operates through five business segments: marine outdoor fitness automotive/mobile and aviation markets. It designs develops manufactures markets and distributes a family of hand-held wearable portable and fixed-mount GPS-enabled products and other navigation communications sensor-based and information products. It offers a range of automotive navigation products as well as a range of products and applications designed for the mobile GPS market. It offers a range of products designed for use in outdoor activities. It offers a range of products designed for use in fitness and activity tracking. Garmin offers a range of products designed for use in the recreational marine industry. Garmin’s aviation product line includes GPS-enabled navigation and electronic flight instrumentation systems (EFIS) among others.