Garmin (NYSE:GRMN) Issues FY25 Earnings Guidance

Garmin (NYSE:GRMN) updated its FY25 earnings guidance on Wednesday. The company provided earnings per share guidance of approx $7.80 for the period, compared to the consensus earnings per share 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.

Garmin Price Performance

Shares of NYSE:GRMN traded up $28.35 during trading on Wednesday, hitting $243.13. The company had a trading volume of 2,633,495 shares, compared to its average volume of 778,287. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a fifty day simple moving average of $212.63 and a two-hundred day simple moving average of $194.17. Garmin has a one year low of $121.20 and a one year high of $246.50.

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

Analyst Ratings Changes

Several analysts have issued reports on GRMN shares. Barclays raised their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded Garmin to a “neutral” rating and boosted their price objective for the company from $212.00 to $219.00 in a report on Friday, February 14th. Morgan Stanley upgraded shares of Garmin to a “sell” rating and upped their target price for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $183.83.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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.