Loading, Please wait ...

Please contact us if you would like to upgrade your account to include access to financial models

Please contact us if you would like to upgrade your account to include short term strategies for this stock.

GRMN.O

ISIN: KYG372601099
SEDOL: 2695620

Rating:

HOLD

Target Price:

21.11 USD

Investment Horizon:

6 to 12 months
14th May 2009 View Report   Download

Company News Alert

On 13 May 2009, Garmin Ltd's (Garmin) NASDAQ common stock achieved our target price. We believe the NASDAQ common stock is fairly priced at current levels. Therefore, we upgrade the NASDAQ common stock from a SELL to a HOLD. We will reassess our target price and rating in our 1Q 09 update report. We now anticipate a significant negative currency impact on the European stock over our investment horizon. Therefore, although the European stock target price does not support ...

6th May 2009 View Report   Download

1Q 09 News Alert

Garmin Ltd. (Garmin) reported a significant y-o-y decline in 1Q 09 revenues, below our estimate due to lower-than-expected performance from the company's Automotive/Mobile segment. Margins were negatively impacted by a decline in top-line and increase in Cost of Goods Sold (COGS), as a percentage of revenues. We continue to expect the erosion of Average Selling Price (ASP) and a decline in consumer spending to apply pressure on margins, going forward....

3rd Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

An uncertain global economic environment will continue to lower consumer spending in FY 2009, impacting the performance of the Global Positioning System (GPS) market. The uncertain economic environment, increasing competitive pressures and a high exposure to consumer markets in the US and Europe will impact Garmin’s performance throughout FY 2009. We expect the Personal Navigation Device (PND) market to decline, going…

24th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Garmin Ltd. (Garmin) reported a decline in 4Q 08 revenues. However, the company was able to maintain margin levels, reduce inventories and increase market share. Management holds a cautious outlook based on the challenging market conditions. We believe Average Selling Price (ASP) erosion and decline in consumer spending will apply pressure on future margins and, therefore, we maintain our fundamental…

21st Jan 2009 View Report   Download

Company News Alert

CLICK VIEW REPORT TO READ FREE REPORT

Garmin Ltd’s (Garmin) NASDAQ common stock declined significantly since our rating downgrade on 06 January 2009. We believe this decline in stock price is attributable to weakness in broader equity markets and TomTom N.V.’s (Garmin’s major competitor) recent fourth quarter profit warning, dated 20 January 2009. We maintain our HOLD rating for the common stock due to uncertainty in the global markets and degenerating consumer…