Garmin (GRMN) Sees Early Pressure on CES Takeaway
Get Alerts GRMN Hot Sheet
Price: $141.02 --0%
Rating Summary:
6 Buy, 17 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 11
Rating Summary:
6 Buy, 17 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 11
Join SI Premium – FREE
Garmin (NASDAQ: GRMN) sees early pressure. Shares are down 3.2%.
This morning, Goldman Sachs offered a takeaway from CES meetings with the company.
Garmin expects its PND units to decline in line with the market at 15%-20% in 2013, implying potential downside to our current estimate for a market unit decline of 11% and Garmin’s unit decline of 7%. The company may discuss capital allocation, including a potential buyback, on its 4Q earnings call.
The firm maintained a Sell rating.
This morning, Goldman Sachs offered a takeaway from CES meetings with the company.
Garmin expects its PND units to decline in line with the market at 15%-20% in 2013, implying potential downside to our current estimate for a market unit decline of 11% and Garmin’s unit decline of 7%. The company may discuss capital allocation, including a potential buyback, on its 4Q earnings call.
The firm maintained a Sell rating.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lockheed Martin (LMT) Tops Q1 EPS by 53c, Beats on Revenue; Offers FY24 Guidance
- Morgan Stanley Double Downgrades AU Optronics (2409:TT) (AUO) to Underweight
- Ryder System (R) Tops Q1 EPS by 43c
Create E-mail Alert Related Categories
Analyst Comments, Trader TalkRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!