Garmin Ltd. (GRMN)
163.42 USD +18.95 (+13.12%) Volume: 2.75M
Garmin Ltd.’s stock price soars to 163.42 USD, witnessing a robust trading session with a rise of +13.12% and a trading volume of 2.75M. The stock continues to outperform with a year-to-date increase of +27.14%, showcasing Garmin’s strong market presence and investor confidence.
Latest developments on Garmin Ltd.
Garmin Ltd‘s stock price soared today, marking its best day in four years, following the announcement of its Q1 2024 results. The company outperformed competitors and surpassed revenue and earnings estimates, reporting record revenues across all segments. This impressive performance was driven by strong demand for Garmin’s advanced wearables and auto products, as well as a boom in fitness-tracker sales. Garmin’s financial metrics and competitive strengths have been recognized as the key to its winning formula. The company also made significant moves in expanding its marine portfolio with the quatix 6 smartwatch and boosting its aviation business.
Garmin Ltd. on Smartkarma
Analysts at Baptista Research have recently initiated coverage on Garmin Ltd, a leading producer of navigation and communication equipment. In their report titled “Garmin Ltd.: Initiation Of Coverage – What Is Its Biggest Competitive Advantage? – Major Drivers,” they highlight the company’s strong growth in both consolidated revenue and profit for Q4 2023. With consolidated revenue rising by 13% to nearly $1.5 billion, Garmin Ltd set a new quarterly record with three of its business segments reporting double-digit growth.
A look at Garmin Ltd. Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Garmin Ltd, a company known for providing navigation and communication devices enabled by GPS technology, has received positive ratings in several key areas according to Smartkarma Smart Scores. With a strong score in Dividend and Momentum, Garmin Ltd shows promise for long-term growth and stability. The company’s focus on resilience and consistent dividend payouts bodes well for investors looking for steady returns.
Despite scoring lower in Value and Growth, Garmin Ltd‘s overall outlook remains positive with a solid foundation in place for future success. As a leader in GPS technology, the company continues to innovate and adapt to changing market demands. Investors may find Garmin Ltd to be a reliable option for those seeking a mix of stability and growth potential in their portfolio.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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