Back to top

Analyst Blog

Zacks Equity Research

Garmin's GPS for Boaters

GRMN

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Worldwide provider of navigation, communications and information devices, Garmin Ltd. (GRMN - Analyst Report) has announced the launch of quatix, a GPS watch for boating enthusiasts. The watch is priced at $450.0 and will be available soon worldwide.

Garmin’s new watch quatix offers the features required for both navigational and sailing purposes. The watch will provide vital information like tidal information, COG (course over ground), SOG (speed over ground), and VMG (velocity made good), along with alerts for speed and anchor drag. It is also equipped with ABC sensors, i.e., altimeter, barometer and compass.

The watch not only provides important information to mariners, but it also looks after the safety of users through its MOB feature. This feature enables one to send alarm signals to the captain of the vessel when he/she falls overboard.

The watch will be particularly useful in competitive sailing. Although professional sailing is in the nascent stage, it is gaining popularity through international events like Volvo Ocean Race (one of the toughest races). It also features in the Olympics.

Garmin is well positioned in the marine market, although recessionary pressures have affected this business. Garmin has continued with its product launches right through the year, including the GDL TM 40 cellular marine weather receiver, the GHS TM 20 and 20i wireless remote handsets for Garmin’s VHF 200 and 300 series marine radios and an update to the GHP TM 12 marine autopilot. It is expected that new products and its OEM approach will continue to expand margins for the company.

In the third quarter of fiscal 2012, Garmin reported revenues of $672.4 million, down 6.4% sequentially and 0.8% year over year, helped by particular strength in the outdoor and aviation segment. The Marine segment accounted for 7% of the revenues, down 34.0% sequentially and 6.8% from the year-ago quarter. The decline from the year-ago quarter was on account of weak economic conditions across the world and particularly in Europe.

Garmin, which is expected to report fourth-quarter results next month has a Zacks Rank #4 (Sell). However, other technology stocks, such as ON Semiconductor (ONNN), which is to report early next month and Linear Technology Corp (LLTC), which reported last week represent better investment opportunities.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GROUP DXYN 15.84 +7.90%
BOFL HOLDING BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%