Garmin, Ltd. (GRMN - Free Report) is an original equipment manufacturer (OEM) of navigation and communication equipment that incorporate the global positioning system (GPS)-based technology.
Garmin is riding high on acquisition and product line expansion. Recently, the company acquired DeLorme, the provider of the inReach series of affordable two-way satellite communication devices for consumers. This is helping the company to add device and recurring service revenues to the outdoor segment.
Garmin also started shipments of activity tracker vívoactive HR with Garmin Elevate wrist heart rate technology and the vívofit 3 with one year battery life. Management focuses on continued innovation to deliver compelling products across served markets.
Due to this, investors are eagerly awaiting Garmin’s earnings report in order to set the record straight and to give some guidance on where this company is heading and are these factors effectively contributing.
Over the past month, the stock has witnessed only one estimate revision for the second quarter 2016.
Currently, Garmin has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GRMN reported earnings of 87 cents which exceeded The Zacks Consensus Estimate of 67 cents.
Revenue: Garmin beats on revenues. It posted revenues of $812 million, compared to our consensus estimate of $762 million.
Key Stats: The company’s top-line performance was mainly driven by its fitness, outdoor, marine and aviation products.
Stock Price: GRMN shares were up 8.43% in the pre-market session at 8:26 AM EDT.
Check back later for our full write up on this AME earnings report later!
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Garmin, Ltd. (GRMN - Free Report) is an original equipment manufacturer (OEM) of navigation and communication equipment that incorporate the global positioning system (GPS)-based technology.
Garmin is riding high on acquisition and product line expansion. Recently, the company acquired DeLorme, the provider of the inReach series of affordable two-way satellite communication devices for consumers. This is helping the company to add device and recurring service revenues to the outdoor segment.
Garmin also started shipments of activity tracker vívoactive HR with Garmin Elevate wrist heart rate technology and the vívofit 3 with one year battery life. Management focuses on continued innovation to deliver compelling products across served markets.
Due to this, investors are eagerly awaiting Garmin’s earnings report in order to set the record straight and to give some guidance on where this company is heading and are these factors effectively contributing.
Over the past month, the stock has witnessed only one estimate revision for the second quarter 2016.
Currently, Garmin has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GRMN reported earnings of 87 cents which exceeded The Zacks Consensus Estimate of 67 cents.
Revenue: Garmin beats on revenues. It posted revenues of $812 million, compared to our consensus estimate of $762 million.
Key Stats: The company’s top-line performance was mainly driven by its fitness, outdoor, marine and aviation products.
Stock Price: GRMN shares were up 8.43% in the pre-market session at 8:26 AM EDT.
Check back later for our full write up on this AME earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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