Zacks Research Issues Positive Estimate for Garmin Earnings

Garmin Ltd. (NYSE:GRMN) – Zacks Research lifted their FY2025 earnings per share estimates for Garmin in a report released on Wednesday, August 13th. Zacks Research analyst Team now expects that the scientific and technical instruments company will post earnings of $7.99 per share for the year, up from their previous estimate of $7.74. The consensus estimate for Garmin’s current full-year earnings is $7.80 per share. Zacks Research also issued estimates for Garmin’s Q2 2027 earnings at $2.43 EPS and FY2027 earnings at $8.83 EPS.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Barclays reiterated an “underweight” rating and set a $167.00 price target (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley boosted their price target on Garmin from $172.00 to $186.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $222.00.

Garmin Stock Performance

Shares of GRMN opened at $232.38 on Friday. Garmin has a one year low of $160.94 and a one year high of $246.50. The stock has a market capitalization of $44.73 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 2.59 and a beta of 0.99. The stock has a 50 day moving average price of $218.12 and a 200 day moving average price of $210.07.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.5%. Garmin’s payout ratio is currently 44.39%.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the sale, the chief executive officer directly owned 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value of $399,685.00. Following the completion of the sale, the chief financial officer owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Garmin

A number of hedge funds have recently modified their holdings of the business. MUFG Securities EMEA plc purchased a new position in shares of Garmin during the 2nd quarter worth $95,000. Corient Private Wealth LLC grew its holdings in shares of Garmin by 3.6% during the 2nd quarter. Corient Private Wealth LLC now owns 20,784 shares of the scientific and technical instruments company’s stock worth $4,338,000 after purchasing an additional 721 shares during the period. State of Tennessee Department of Treasury grew its holdings in shares of Garmin by 3.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 46,588 shares of the scientific and technical instruments company’s stock worth $9,724,000 after purchasing an additional 1,514 shares during the period. Vident Advisory LLC grew its holdings in shares of Garmin by 114.6% during the 2nd quarter. Vident Advisory LLC now owns 21,132 shares of the scientific and technical instruments company’s stock worth $4,411,000 after purchasing an additional 11,284 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Garmin by 32.9% during the 2nd quarter. Tidal Investments LLC now owns 184,024 shares of the scientific and technical instruments company’s stock worth $38,409,000 after purchasing an additional 45,590 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.