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Mar 02
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Garmin Stock ForecastForecast Comments Off
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On Feb. 22 Garmin, the makers of navigational devices beat expectations as it announced $910 million in sales in the fourth quarter, up 9 percent from a year earlier. Garmin’s quarterly profit increased 25 percent during the quarter, too, and it proposed paying out dividends of $1.80 per share over four quarters. Investors cheered the news, pushing the stock up 9.3 percent to close at $48.86.
The Future Of Garmin
To forecast Garmin stock you have to look at changes the company is undergoing. Although sales of navigation devices for cars continue to fall, the company has been investing money in developing new products. Now, more than a third of the company’s revenue comes from GPS products that have nothing to do with cars.Devices for outdoor enthusiasts, such as handheld devices with topographic maps for hikers and tools for hunters to train and track their dogs. That’s followed by portable GPS gadgets and watches for athletes, particularly cyclists, runners, and golfers. Garmin also sells GPS products that are built into the dashboards of helicopters, airplanes, and ships.
As you can see this is a company that is re-inventing itself and it wont go the way of Kodak.
Garmin Stock Forecast and Prediction
Many analysts, including Goldman Sachsand JPMorgan Chase, are raising their target prices for Garmin. Some on Wall Street now see the stock trading as high as $60.
