Zacks Research Has Bullish Forecast for Garmin Q1 Earnings

Garmin Ltd. (NYSE:GRMN) – Research analysts at Zacks Research increased their Q1 2025 earnings per share estimates for shares of Garmin in a research report issued on Wednesday, March 5th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings per share of $1.53 for the quarter, up from their prior estimate of $1.38. The consensus estimate for Garmin’s current full-year earnings is $7.80 per share. Zacks Research also issued estimates for Garmin’s Q3 2025 earnings at $1.89 EPS, Q1 2026 earnings at $1.60 EPS, Q2 2026 earnings at $1.90 EPS, Q3 2026 earnings at $1.94 EPS, Q4 2026 earnings at $2.38 EPS, FY2026 earnings at $7.82 EPS and FY2027 earnings at $9.09 EPS.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm posted $1.72 earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis.

A number of other equities analysts also recently commented on the company. Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays lifted their price target on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a “sell” rating and upped their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and a consensus price target of $210.80.

Garmin Price Performance

GRMN opened at $219.51 on Friday. The firm has a market capitalization of $42.23 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company’s 50 day simple moving average is $216.28 and its two-hundred day simple moving average is $199.50. Garmin has a 1-year low of $138.86 and a 1-year high of $246.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the 4th quarter valued at $26,000. Aster Capital Management DIFC Ltd boosted its holdings in Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 121 shares during the period. Pinnacle Bancorp Inc. acquired a new position in Garmin in the 4th quarter valued at about $29,000. Larson Financial Group LLC increased its stake in Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the period. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Garmin during the fourth quarter worth about $37,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the transaction, the chief executive officer now owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,274 shares of company stock worth $5,242,686. Company insiders own 19.54% of the company’s stock.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is 41.04%.

About Garmin

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.