Garmin (NYSE:GRMN) Announces Earnings Results, Beats Estimates By $0.51 EPS

Garmin (NYSE:GRMN) released its earnings results on Wednesday. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.51, Zacks reports. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. Garmin’s revenue for the quarter was up 22.9% on a year-over-year basis. Garmin updated its FY 2025 guidance to 7.800-7.800 EPS and its FY25 guidance to approx $7.80 EPS.

Garmin Stock Down 1.3 %

Shares of NYSE:GRMN opened at $226.02 on Friday. The stock’s 50 day moving average is $212.99 and its 200-day moving average is $194.84. Garmin has a twelve month low of $131.20 and a twelve month high of $246.50. The firm has a market capitalization of $43.40 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.44 and a beta of 0.98.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.59%. Garmin’s dividend payout ratio is 41.04%.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GRMN shares. JPMorgan Chase & Co. boosted their price objective on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays boosted their price target on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday. Morgan Stanley raised shares of Garmin to a “sell” rating and raised their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, Tigress Financial boosted their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $195.67.

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.