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

Garmin Ltd. (NYSE:GRMN) announced a quarterly dividend on Wednesday, February 19th. Stockholders of record on Friday, December 12th will be paid 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 is Friday, December 12th.

Garmin has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 8 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 Up 0.5%

GRMN stock opened at $202.29 on Wednesday. Garmin has a 52 week low of $169.26 and a 52 week high of $261.69. The firm has a 50-day simple moving average of $220.62 and a 200-day simple moving average of $222.26. The stock has a market capitalization of $38.91 billion, a P/E ratio of 24.91, a P/E/G ratio of 2.28 and a beta of 1.01.

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

Analyst Ratings Changes

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

About Garmin

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.