Zacks Research Issues Negative Forecast for Garmin Earnings

Garmin Ltd. (NYSE:GRMN) – Analysts at Zacks Research reduced their Q1 2026 EPS estimates for Garmin in a research note issued to investors on Tuesday, October 22nd. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings of $1.55 per share for the quarter, down from their prior forecast of $1.57. The consensus estimate for Garmin’s current full-year earnings is $6.08 per share. Zacks Research also issued estimates for Garmin’s Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $7.00 EPS.

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

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

Garmin Stock Performance

NYSE GRMN opened at $162.30 on Thursday. The business has a fifty day moving average price of $173.31 and a 200 day moving average price of $166.17. The company has a market cap of $31.17 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.85 and a beta of 0.99. Garmin has a one year low of $99.61 and a one year high of $184.42.

Institutional Trading of Garmin

A number of institutional investors and hedge funds have recently bought and sold shares of GRMN. Sumitomo Life Insurance Co. grew its holdings in shares of Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Garmin by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after acquiring an additional 70 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of Garmin by 3.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after acquiring an additional 73 shares in the last quarter. UMB Bank n.a. boosted its holdings in Garmin by 2.6% in the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after purchasing an additional 74 shares during the period. Finally, Brighton Jones LLC grew its stake in Garmin by 5.8% during the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 83 shares in the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is currently owned by insiders.

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.