FY2026 Earnings Forecast for Garmin Issued By Zacks Research

Key Points

• Zacks Research raised Garmin’s FY2026 EPS estimate to $10.00 from $9.35 and maintained a “Strong Buy” rating; the forecast is slightly below the $10.10 consensus.
• Garmin’s latest quarterly results exceeded expectations, with EPS of $2.81 versus $2.30 expected and revenue of $2.02 billion versus $1.93 billion, while revenue increased 11.4% year over year.
• Garmin shares opened at $310.39, near their 52-week high of $314.28. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $310.17.

Garmin Ltd. (NYSE:GRMN - Free Report) - Research analysts at Zacks Research increased their FY2026 earnings estimates for shares of Garmin in a report released on Wednesday, August 12th. Zacks Research analyst Team now anticipates that the scientific and technical instruments company will post earnings per share of $10.00 for the year, up from their previous forecast of $9.35. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Garmin's current full-year earnings is $10.10 per share. Zacks Research also issued estimates for Garmin's Q4 2026 earnings at $2.79 EPS, Q1 2027 earnings at $2.03 EPS, Q3 2027 earnings at $2.66 EPS, Q4 2027 earnings at $3.17 EPS, FY2027 earnings at $10.32 EPS, Q1 2028 earnings at $2.14 EPS and FY2028 earnings at $11.00 EPS.

A number of other equities research analysts also recently weighed in on GRMN. Barclays raised their target price on Garmin from $238.00 to $297.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Tigress Financial reissued a "strong-buy" rating on shares of Garmin in a report on Thursday, August 6th. Morgan Stanley upped their price objective on Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Finally, UBS Group set a $370.00 target price on Garmin in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $310.17.

Garmin Price Performance

Shares of GRMN opened at $310.39 on Thursday. Garmin has a one year low of $186.67 and a one year high of $314.28. The company has a market cap of $59.86 billion, a P/E ratio of 32.00, a P/E/G ratio of 3.45 and a beta of 0.87. The firm has a 50 day simple moving average of $254.18 and a two-hundred day simple moving average of $242.83.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares of the company's stock, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the company'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 owned 15,042 shares of the company's stock, valued at $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,810 shares of company stock valued at $2,478,157. Corporate insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Garmin

Large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Garmin by 1.8% during the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company's stock worth $1,785,304,000 after purchasing an additional 126,677 shares during the last quarter. Norges Bank bought a new position in Garmin in the 4th quarter valued at approximately $395,234,000. Northern Trust Corp boosted its position in Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company's stock worth $348,836,000 after buying an additional 63,283 shares during the period. Dimensional Fund Advisors LP boosted its position 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 worth $378,540,000 after buying an additional 40,474 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Garmin by 0.4% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company's stock worth $296,250,000 after acquiring an additional 5,213 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source