Garmin Ltd. (GRMN) has been observed with heightened interest by investors and financial institutions, fuelled by a mix of strong financial results, downgrades by certain analysts and institutional buying & selling. Despite being downgraded to Underweight due to concerns over growth by Barclays and facing margin headwinds, the stock maintains an upward trend. The company's first and second quarter reports of 2024 were announced, though specific details on their performance were not mentioned. It was noted that the company's dividend remained at $0.75. It reached a new 12-month high, hitting $183.99 despite concerns over overvaluation. Several firms increased their investments in Garmin Ltd, including TD Asset Management Inc and CoreCap Advisors LLC, echoing the sentiment of other institutional investors who hold about 56% of shares. Meanwhile, others divest off the company's shares including ARK Investment Management LLC. The company's product innovations such as the smartwatches and marine cameras were noted while a report on breakthrough technology to avoid runway incursions was referenced. The firm's fitness segment was mentioned as an opportunity for long-term growth. Lastly, their Q2 earnings for 2024 surpassed estimates, with EPS of $1.56 and Revenue of $1.51 billion.
Garmin Ltd GRMN News Analytics from Wed, 01 Nov 2023 07:00:00 GMT to Sun, 15 Sep 2024 08:36:34 GMT -
Rating 2
- Innovation 5
- Information 7
- Rumor 3
