Garmin Ltd. (NYSE:GRMN – Free Report) – Research analysts at Zacks Research lifted their FY2024 EPS estimates for Garmin in a research report issued to clients and investors on Wednesday, August 14th. Zacks Research analyst S. Mete now forecasts that the scientific and technical instruments company will post earnings per share of $6.00 for the year, up from their previous estimate of $5.40. The consensus estimate for Garmin’s current full-year earnings is $6.00 per share. Zacks Research also issued estimates for Garmin’s Q2 2025 earnings at $1.58 EPS, Q4 2025 earnings at $1.94 EPS and Q2 2026 earnings at $1.69 EPS.
A number of other research analysts have also weighed in on GRMN. Tigress Financial lifted their price target on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $165.00 to $150.00 in a research report on Wednesday, May 22nd. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Barclays upped their price objective on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.83.
Garmin Price Performance
NYSE:GRMN opened at $176.48 on Monday. The business’s 50-day simple moving average is $166.96 and its 200-day simple moving average is $154.67. Garmin has a fifty-two week low of $99.61 and a fifty-two week high of $179.76. The stock has a market capitalization of $33.90 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.55 and a beta of 0.98.
Garmin (NYSE:GRMN – Get Free Report) last posted its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis.
Garmin Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s dividend payout ratio (DPR) is presently 42.31%.
Insider Transactions at Garmin
In related news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the transaction, the executive vice president now owns 58,412 shares in the company, valued at $9,551,530.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Garmin news, CFO Douglas G. Boessen sold 2,350 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the transaction, the chief financial officer now directly owns 28,010 shares in the company, valued at $4,527,256.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of GRMN. International Assets Investment Management LLC acquired a new position in shares of Garmin in the fourth quarter valued at approximately $8,691,000. Louisiana State Employees Retirement System bought a new position in Garmin during the 4th quarter worth $1,195,000. SVB Wealth LLC bought a new position in Garmin during the 4th quarter worth $207,000. Daiwa Securities Group Inc. lifted its holdings in shares of Garmin by 7.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,445 shares of the scientific and technical instruments company’s stock worth $1,728,000 after buying an additional 887 shares in the last quarter. Finally, Greenleaf Trust boosted its position in shares of Garmin by 2.5% in the fourth quarter. Greenleaf Trust now owns 3,518 shares of the scientific and technical instruments company’s stock valued at $452,000 after acquiring an additional 87 shares during the period. 73.41% of the stock is owned by 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.
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