Garmin (NYSE:GRMN) Issues Quarterly Earnings Results

Garmin (NYSE:GRMN) issued its quarterly earnings results on Wednesday. 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, Zacks reports. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $1.72 earnings per share. Garmin updated its FY 2025 guidance to 7.800-7.800 EPS and its FY25 guidance to approx $7.80 EPS.

Garmin Stock Performance

Shares of NYSE GRMN opened at $235.42 on Thursday. Garmin has a fifty-two week low of $128.89 and a fifty-two week high of $246.50. The firm has a market capitalization of $45.21 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98. The stock’s 50-day simple moving average is $212.99 and its 200-day simple moving average is $194.84.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of several recent analyst reports. Morgan Stanley raised Garmin to a “sell” rating and raised their price target for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays upped their target price on 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. raised Garmin to a “neutral” rating and increased their price objective for the company from $212.00 to $219.00 in a research note on Friday, February 14th. Finally, Tigress Financial increased their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.83.

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.