Garmin (NYSE:GRMN) Releases FY25 Earnings Guidance

Garmin (NYSE:GRMN) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of approx $7.80 for the period, compared to the consensus estimate of $7.77. The company issued revenue guidance of approx $6.80 billion, compared to the consensus revenue estimate of $6.72 billion. Garmin also updated its FY 2025 guidance to 7.800-7.800 EPS.

Garmin Stock Down 1.4 %

GRMN traded down $3.19 during trading hours on Friday, hitting $225.82. 126,393 shares of the company’s stock were exchanged, compared to its average volume of 809,752. Garmin has a 1-year low of $131.20 and a 1-year high of $246.50. The stock’s 50-day moving average is $212.99 and its two-hundred day moving average is $194.84. The stock has a market cap of $43.36 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.44 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.51. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 earnings per share. On average, equities research analysts anticipate that Garmin will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is 41.04%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 19.54% of the company’s stock.

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.