Zacks Research Forecasts Garmin’s Q2 Earnings (NYSE:GRMN)

Garmin Ltd. (NYSE:GRMN) – Analysts at Zacks Research decreased their Q2 2026 earnings estimates for Garmin in a research note issued on Tuesday, October 22nd. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings per share of $1.67 for the quarter, down from their prior forecast of $1.69. The consensus estimate for Garmin’s current full-year earnings is $6.08 per share.

GRMN has been the topic of several other reports. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Tigress Financial lifted their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Three investment 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’s stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and an average target price of $158.50.

Garmin Trading Up 0.2 %

GRMN stock opened at $162.30 on Friday. The business’s 50 day simple moving average is $173.31 and its 200 day simple moving average is $166.17. Garmin has a 1-year low of $99.61 and a 1-year high of $184.42. The firm has a market capitalization of $31.17 billion, a PE ratio of 22.89, a PEG ratio of 2.85 and a beta of 0.99.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. Garmin’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $1.45 earnings per share.

Hedge Funds Weigh In On Garmin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. boosted its position in shares of Garmin by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after acquiring an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co increased its stake in shares of Garmin by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after purchasing an additional 70 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Garmin by 3.3% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock worth $344,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after buying an additional 74 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in Garmin by 5.8% in the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 83 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is currently owned by company insiders.

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.