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Why Garmin Stock Is Sinking This Week

TheMotleyFool

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Why Garmin Stock Is Sinking This Week: https://g.foolcdn.com/editorial/images/840658/gettyimages-1409383663-2.jpg

Shares of Garmin (NYSE: GRMN) -- home to a number of GPS-infused products -- were down 15% this week as of noon ET on Friday, according to data provided by S&P Global Market Intelligence.

The company reported third-quarter earnings on Wednesday and announced that sales grew by 12% and earnings per share (EPS) were flat.

These figures were less than what analysts had hoped for, so the stock dropped -- even though it raised its full-year EPS guidance from $8 to $8.15.

Source Fool.com