LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Garmin Ltd (NASDAQ: GRMN), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=GRMN. The Company announced on October 09, 2017, that it has expanded the Connext weather and data service packages that offer additional cost-effective pricing tiers offering all-inclusive plans rate, designed to suit operational needs for global weather and connectivity. According to the Company, an aircraft equipped with the GSR 56 satellite datalink transceiver and compatible avionics can leverage the advantage of these new rate plans starting at $79.99 per month. Additionally, the qualifying customers with GSR 56 in their aircrafts do not currently have to opt for a more active subscription and are eligible for a three-month promotional service plan. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Announcement
According to the Company, monitoring weather and staying connected is an integral part of the weather, be it local or transcontinental. The addition of these new Connect Service plans allows flight crews and passengers to utilize text and voice capabilities while helping the aircraft team make more strategic, weather-related decisions while flying. These plans also offer a far more economical path to incorporate other value-added services, like position and maintenance reporting, in an attempt to make customers fully realize their GSR 56 in the most affordable way.
The Company has introduced a new promotional rate plan delivering qualified customers with complimentary access to weather services for the first three months. Once the period expires, customers are automatically ignored in the Connext 150 Service plan. For customers who currently do not have the active service, this new incentive offers an even more cost-effective path to subscribing to the Connext weather and data service packages via the GSR 56.
Garmin has launched cost-effective rate plans applicable to a wide range of operators across the world. Voice calling and text messaging accompany worldwide weather data in three packages, namely:
- Garmin Connext Weather 150 $79.99 monthly;
- Garmin Connext Weather 400 $174.99 monthly; and
- Garmin Connext Weather 800 (new rate plan) $249.99 monthly
Each plan from the Company is tailored to the number of hours a typical pilot operates throughout the year. Weather 150 is an ideal fit for customers that operate 150 hours or less per year and deliver worldwide weather updates at 10-minute intervals. The package also includes 30 minutes of voice per month and unlimited text messaging. Garmin's Aviation segment is a leading provider of solutions to OEM, aftermarket, military, and government customers. Garmin's portfolio includes navigation, communication, flight control, hazard avoidance, an expansive suite of ADS-B solutions, and other products and services.
Company Growth Prospects
Recently, on October 09, 2017, Garmin announced that it has delivered the 500th G100 international flight deck upgrade for the King Air aircraft. Also, the Company stated that the Garmin Head-up Display for super-midsize business aircraft continues to make progress with flight testing and certification on the Cessna Citation Longitude in conjunction with the G5000 integrated flight deck.
Last Close Stock Review
At the closing bell, on Tuesday, October 10, 2017, Garmin's stock marginally rose 0.63%, ending the trading session at $54.26. A total volume of 659.19 thousand shares have exchanged hands. The Company's stock price surged 7.87% in the last three months, 8.54% in the past six months, and 11.49% in the previous twelve months. Moreover, the stock rallied 11.90% since the start of the year. The stock is trading at a PE ratio of 15.29 and has a dividend yield of 3.76%. The stock currently has a market cap of $10.74 billion.
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