Brokers Issue Forecasts for Garmin's Q3 Earnings (NYSE:GRMN)

Key Points

• Zacks Research forecasts Garmin will report Q3 EPS of $2.73, compared with a full-year consensus estimate of $10.08 per share, and maintains a “Hold” rating.
• Analyst sentiment is broadly positive, with Garmin carrying a consensus “Moderate Buy” rating and an average price target of $313.71; individual targets range from $289 to $370.
• Garmin’s latest quarter exceeded expectations, delivering $2.81 EPS and $2.02 billion in revenue, with revenue up 11.4% year over year. The stock recently traded at $286.85, while insiders have sold approximately $4.8 million of shares over the past 90 days.

Garmin Ltd. (NYSE:GRMN - Free Report) - Zacks Research issued their Q3 2028 earnings per share (EPS) estimates for Garmin in a report issued on Friday, October 16th. Zacks Research analyst Team expects that the scientific and technical instruments company will post earnings of $2.73 per share for the quarter. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Garmin's current full-year earnings is $10.08 per share.

A number of other analysts have also issued reports on the stock. Morgan Stanley lifted their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Tigress Financial reiterated a "strong-buy" rating on shares of Garmin in a research note on Thursday, August 6th. KeyCorp reiterated a "sector weight" rating on shares of Garmin in a research note on Wednesday, September 2nd. Arete Research assumed coverage on shares of Garmin in a report on Wednesday, October 14th. They set a "buy" rating and a $335.00 price objective for the company. Finally, UBS Group set a $370.00 target price on shares of Garmin in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $313.71.

Garmin Stock Up 0.7%

GRMN stock opened at $286.85 on Tuesday. Garmin has a 52-week low of $186.67 and a 52-week high of $314.28. The company has a market capitalization of $55.32 billion, a PE ratio of 29.45, a P/E/G ratio of 3.18 and a beta of 0.82. The stock's 50 day moving average is $285.28 and its two-hundred day moving average is $261.83.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. Garmin's revenue for the quarter was up 11.4% on a year-over-year basis.

Insider Transactions at Garmin

In related news, VP Joshua H. Maxfield sold 1,152 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $291.13, for a total transaction of $335,381.76. Following the transaction, the vice president directly owned 15,042 shares in the company, valued at $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Clifton Pemble sold 4,029 shares of Garmin stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the completion of the transaction, the chief executive officer directly owned 120,127 shares of the company's stock, valued at approximately $36,038,100. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,108 shares of company stock worth $4,808,799. 14.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Garmin

Several institutional investors have recently added to or reduced their stakes in GRMN. Dimensional Fund Advisors LP boosted its stake in Garmin by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company's stock valued at $378,540,000 after purchasing an additional 40,474 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Garmin by 73.8% in the 1st quarter. Bank of America Corp DE now owns 1,295,199 shares of the scientific and technical instruments company's stock worth $300,499,000 after buying an additional 549,954 shares in the last quarter. Amundi lifted its holdings in shares of Garmin by 82.5% in the first quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company's stock valued at $236,027,000 after buying an additional 459,980 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Garmin by 192.8% in the first quarter. SG Americas Securities LLC now owns 506,273 shares of the scientific and technical instruments company's stock valued at $117,460,000 after buying an additional 333,345 shares during the period. Finally, Swiss National Bank boosted its stake in Garmin by 7.0% during the first quarter. Swiss National Bank now owns 479,800 shares of the scientific and technical instruments company's stock valued at $111,318,000 after buying an additional 31,400 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

About Garmin

Garmin Ltd. NYSE: GRMN designs and manufactures GPS-enabled technology and smart devices for fitness, outdoor recreation, aviation, marine, and automotive markets. Its product portfolio includes smartwatches, cycling computers, sports and activity trackers, satellite communication devices, navigation systems, and related sensors and accessories.

The company also develops aviation systems and avionics, marine chartplotters and sonar equipment, and navigation and infotainment solutions for vehicle manufacturers.

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