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

Garmin (NYSE:GRMN) released its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51, Zacks reports. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Garmin updated its FY 2025 guidance to 7.800-7.800 EPS and its FY25 guidance to approx $7.80 EPS.

Garmin Stock Down 2.7 %

Shares of NYSE GRMN opened at $235.42 on Thursday. The stock’s 50 day moving average price is $212.99 and its two-hundred day moving average price is $194.84. Garmin has a 52-week low of $128.89 and a 52-week high of $246.50. The stock has a market capitalization of $45.21 billion, a P/E ratio of 29.82, a PEG ratio of 1.28 and a beta of 0.98.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now 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 through this link. 19.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of analyst reports. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial upped their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. upgraded Garmin to a “neutral” rating and upped their price target for the stock from $212.00 to $219.00 in a research note on Friday, February 14th. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and upped their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Three research 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. According to data from MarketBeat.com, Garmin presently has an average rating of “Hold” and a consensus price target of $183.83.

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.