GRMN Garmin leader in GPS positioning cheap and growing. August 17, 2006Posted by deminvest in GRMN Garmin Stock, growth stock, Single stocks, stock I own, stocks.
GRMN is the leading maker of global positioning systems [GPS]. A GPS is something mounted on fancy cars of rich people (affluent they say…) who cannot find their way and on boat of any kind.
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GARMIN is growing amazingly fast:
Qtrly Revenue Growth (yoy):63.50%
Qtrly Earnings Growth (yoy):66.20%
It is getting cheap: Forward P/E 2007:10.29
Garmin’s Q2 report on August 2th was another blowout. Earnings per share came in at $1.10 versus estimates of $0.94 and the company raised guidance for all of 2006.
I read somewhere on the Internet (please check, don’t trust anybody suggesting a stock! Never do) that it is gaining market share in Europe and is kicking butts of its competitors. That is enough for me to put my monthly $1000 savings right on GRMN… Even though the lack of reasonable dividends by Garmin is something I hate.
I will place an overoptimistic order to buy 25 GRMN at anyprice at market opening today.