Garmin (NYSE:GRMN) Issues FY 2026 Earnings Guidance

Garmin (NYSE:GRMN) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 10.000-10.000 for the period, compared to the consensus earnings per share estimate of 9.570. The company issued revenue guidance of $8.1 billion-$8.1 billion, compared to the consensus revenue estimate of $8.0 billion.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GRMN shares. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Tigress Financial lifted their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Finally, Barclays raised their price objective on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $289.20.

Garmin Trading Up 0.9%

NYSE:GRMN opened at $297.50 on Friday. The business’s 50-day moving average is $241.94 and its 200 day moving average is $236.69. Garmin has a 12 month low of $186.67 and a 12 month high of $304.00. The company has a market capitalization of $57.38 billion, a P/E ratio of 30.67, a P/E/G ratio of 3.48 and a beta of 0.90.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the firm earned $2.17 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, research analysts forecast that Garmin will post 9.53 earnings per share for the current year.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the sale, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Garmin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Atlas Capital Advisors Inc. bought a new stake in shares of Garmin during the fourth quarter valued at approximately $34,000. DV Equities LLC purchased a new stake in shares of Garmin in the 4th quarter worth $46,000. Itau Unibanco Holding S.A. increased its stake in shares of Garmin by 23.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock valued at $57,000 after buying an additional 53 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Garmin in the fourth quarter valued at about $62,000. Finally, State of Wyoming grew its holdings in Garmin by 26.2% during the 4th quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company’s stock worth $71,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.