Garmin (NYSE:GRMN) Releases FY25 Earnings Guidance

Garmin (NYSE:GRMN) updated its FY25 earnings guidance on Wednesday. The company provided EPS guidance of approx $7.80 for the period, compared to the consensus EPS estimate of $7.77. The company issued revenue guidance of approx $6.80 billion, compared to the consensus revenue estimate of $6.72 billion. Garmin also updated its FY 2025 guidance to 7.800-7.800 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Tigress Financial lifted their price objective on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Finally, Morgan Stanley upgraded shares of Garmin to a “sell” rating and lifted their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $190.67.

Garmin Trading Down 5.7 %

Shares of NYSE GRMN traded down $13.80 during midday trading on Thursday, hitting $228.13. The company’s stock had a trading volume of 331,818 shares, compared to its average volume of 787,621. The stock has a fifty day moving average price of $212.99 and a 200 day moving average price of $194.84. Garmin has a one year low of $128.89 and a one year high of $246.50. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 1.28 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, equities research analysts predict that Garmin will post 7.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value 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 approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.54% of the company’s stock.

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.