Garmin (NYSE:GRMN) Updates FY 2026 Earnings Guidance

Key Points

• FY2026 guidance: Garmin set EPS guidance at 9.350 and revenue at $7.9 billion, both slightly below Street estimates (EPS ~9.39; revenue ~$8.0B), which prompted a cautious market reaction despite the quarter beat.
• Q1 beat and momentum: The company reported $2.08 EPS vs. $1.83 expected and $1.75B in revenue, with strength in premium wearables and aviation/marine driving record first‑quarter revenue and operating income.
• Analyst and shareholder actions: Analysts have raised some price targets and ratings (consensus = "Moderate Buy", $269.40 target), Garmin announced a $1.05 quarterly dividend, and insiders have recently sold notable blocks of stock.

Garmin (NYSE:GRMN - Get Free Report) updated its FY 2026 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.350-9.350 for the period, compared to the consensus earnings per share estimate of 9.390. The company issued revenue guidance of $7.9 billion-$7.9 billion, compared to the consensus revenue estimate of $8.0 billion.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GRMN. Tigress Financial raised their price target on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 20th. Barclays set a $240.00 price objective on Garmin in a research note on Thursday, February 19th. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Zacks Research raised Garmin from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 23rd. Finally, Morgan Stanley raised Garmin from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $195.00 to $252.00 in a research note on Tuesday. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.40.

Garmin Stock Performance

NYSE:GRMN opened at $247.94 on Wednesday. The stock's 50-day simple moving average is $246.86 and its 200 day simple moving average is $223.01. The company has a market cap of $47.82 billion, a P/E ratio of 28.83, a P/E/G ratio of 3.08 and a beta of 0.96. Garmin has a 52-week low of $178.74 and a 52-week high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.25. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts predict that Garmin will post 9.41 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. Garmin's dividend payout ratio is presently 48.84%.

Insider Buying and Selling

In related news, EVP Matthew Munn sold 5,275 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the completion of the sale, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the sale, the chief executive officer owned 124,075 shares of the company's stock, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,725 shares of company stock valued at $10,213,222 in the last ninety days. 19.54% of the stock is currently owned by company insiders.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Q1 results beat expectations — Garmin delivered $2.08 EPS vs. $1.83 expected and reported $1.75B in revenue, with record first‑quarter revenue and operating income, driven by premium wearables and steady aviation/marine demand. This supports the company’s underlying growth narrative. Article Title
• Positive Sentiment: Product & segment momentum — Management cited strength in advanced fitness wearables and continued growth in aviation and marine, signs that higher‑margin categories remain healthy going into the year. Article Title
• Neutral Sentiment: Analyst action — Morgan Stanley upgraded Garmin to equal‑weight and raised its price target to $252 from $195, reflecting improved near‑term fundamentals but stopping short of a bullish stance. The upgrade is supportive but implies limited upside versus current levels. Article Title
• Neutral Sentiment: Company materials available — Garmin posted its press release, slide deck and conference materials showing the beat and segment details for Q1, which investors can review for color on margins and region/segment trends. View Press Release
• Negative Sentiment: Cautious FY2026 guidance — Garmin set EPS guidance at 9.350 (vs. Street ~9.39) and revenue guidance at $7.9B (vs. Street ~$8.0B). The slight miss on consensus revenue and EPS expectations is the main driver of downside pressure despite the quarter beat.
• Negative Sentiment: Initial market reaction — Traders appear to be focusing on the conservative full‑year outlook and small guidance gap, driving the stock lower even after a strong quarter. (See company Q1 release and coverage.) Article Title

Institutional Investors Weigh In On Garmin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. bought a new stake in Garmin during the fourth quarter worth $34,000. DV Equities LLC bought a new stake in Garmin during the fourth quarter worth $46,000. Itau Unibanco Holding S.A. lifted its stake in Garmin by 23.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company's stock worth $57,000 after purchasing an additional 53 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Garmin during the fourth quarter worth $62,000. Finally, State of Wyoming lifted its stake in shares of Garmin by 26.2% in the 4th quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company's stock valued at $71,000 after acquiring an additional 73 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Company Profile

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.

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