Zacks Research Analysts Boost Earnings Estimates for Garmin

Key Points

• Zacks Research raised its Q1 2026 EPS estimate for Garmin from $1.65 to $1.82, assigns a Strong-Buy rating, and projects FY2027 and FY2028 EPS of $9.74 and $11.02 respectively.
• Garmin reported quarterly EPS of $2.79 and revenue of $2.12 billion—both beat estimates—with revenue up 16.6% year-over-year and FY2026 guidance set at $9.35 EPS.
• The company declared a quarterly dividend of $1.05 (annualized $4.20, ~1.7% yield) while insiders have sold about $13.65 million of stock over the past three months.

Garmin Ltd. (NYSE:GRMN - Free Report) - Equities researchers at Zacks Research increased their Q1 2026 earnings per share estimates for shares of Garmin in a research note issued to investors on Wednesday, March 4th. Zacks Research analyst Team now forecasts that the scientific and technical instruments company will post earnings per share of $1.82 for the quarter, up from their prior estimate of $1.65. Zacks Research currently has a "Strong-Buy" rating on the stock. The consensus estimate for Garmin's current full-year earnings is $7.80 per share. Zacks Research also issued estimates for Garmin's Q2 2026 earnings at $2.26 EPS, Q3 2026 earnings at $2.38 EPS, Q1 2027 earnings at $1.78 EPS, Q2 2027 earnings at $2.18 EPS, Q3 2027 earnings at $2.55 EPS, FY2027 earnings at $9.74 EPS and FY2028 earnings at $11.02 EPS.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.40. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.Garmin's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Thursday, February 19th. Tigress Financial boosted their target price on shares of Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a research note on Friday, February 20th. Longbow Research upgraded Garmin from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. Finally, Barclays set a $240.00 target price on Garmin in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.00.

Garmin Trading Down 4.4%

GRMN stock opened at $240.12 on Friday. The firm has a 50-day moving average price of $217.05 and a 200-day moving average price of $221.78. Garmin has a 12 month low of $169.26 and a 12 month high of $261.69. The stock has a market capitalization of $46.22 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.94.

Garmin Announces Dividend

The firm also recently disclosed 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 (DPR) is 41.86%.

Insider Buying and Selling

In other Garmin 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 transaction, the executive vice president directly owned 9,876 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Desbois sold 6,694 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the transaction, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. The trade was a 10.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,319 shares of company stock worth $13,650,815 over the last three months. Insiders own 15.38% of the company's stock.

Institutional Investors Weigh In On Garmin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Garmin by 6.2% in the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock worth $1,278,000 after purchasing an additional 345 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Garmin by 40.6% in the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock valued at $2,826,000 after purchasing an additional 3,757 shares in the last quarter. Focus Partners Wealth grew its holdings in Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock worth $1,479,000 after buying an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock valued at $347,000 after buying an additional 242 shares during the last quarter. 81.60% of the stock is 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.

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