Garmin Reports Strong Fourth-Quarter Results; Increasing FVE to $53; Shares Are Fairly Valued
Garmin reported better-than-expected fourth-quarter results as the top and bottom line handily beat our expectations. Double-digit overall revenue growth during the quarter was a result of revenue improvement in every segment. In addition, most of the segments displayed margin expansion. Impressive performance in marine and aviation segments support our thesis that these narrow-moat segments will more than offset decline in auto’s PND business and will help the company to continue to generate ex...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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