Zacks Research Has Pessimistic Outlook of Garmin Q2 Earnings

Garmin Ltd. (NYSE:GRMN) – Investment analysts at Zacks Research reduced their Q2 2026 earnings per share (EPS) 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 of $1.67 per share 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.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.18. The firm 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%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS.

GRMN has been the subject of several other research reports. Tigress Financial upped their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average price target of $158.50.

Garmin Price Performance

GRMN opened at $162.30 on Friday. The firm has a 50 day simple moving average of $173.31 and a 200 day simple moving average of $166.17. Garmin has a fifty-two week low of $99.61 and a fifty-two week high of $184.42. The company has a market cap of $31.17 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99.

Insider Transactions at Garmin

In related news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated Wednesday, August 21st. The shares were 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 $7,257,359.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock valued at $2,296,174 over the last 90 days. 19.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Garmin

A number of large investors have recently bought and sold shares of GRMN. Select Equity Group L.P. lifted its position in shares of Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after purchasing an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Garmin by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after buying an additional 13,968 shares in the last quarter. Boston Partners lifted its position in Garmin by 4.3% during the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after buying an additional 58,343 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Garmin by 34.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after buying an additional 278,990 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Garmin by 20.2% in the 1st quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock valued at $124,982,000 after acquiring an additional 141,001 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

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.