Zacks Research Has Positive Outlook for Garmin Q2 Earnings

Key Points

• Zacks Research raised Garmin’s Q2 2027 EPS estimate to $2.46 from $2.14 and maintained its “Strong-Buy” rating, also projecting $2.69 EPS for Q2 2028.
• Garmin recently beat quarterly expectations, reporting $2.81 EPS versus the $2.30 consensus and $2.02 billion in revenue, up 11.4% year over year.
• Analyst sentiment remains favorable, with Garmin carrying a “Moderate Buy” consensus rating and an average price target of $310.17; however, insiders have sold $2.48 million of stock over the past 90 days.

Garmin Ltd. (NYSE:GRMN - Free Report) - Zacks Research raised their Q2 2027 earnings per share estimates for Garmin in a research report issued on Wednesday, August 12th. Zacks Research analyst Team now forecasts that the scientific and technical instruments company will post earnings of $2.46 per share for the quarter, up from their previous estimate of $2.14. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Garmin's current full-year earnings is $10.08 per share. Zacks Research also issued estimates for Garmin's Q2 2028 earnings at $2.69 EPS.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (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 company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the company posted $2.17 EPS. The firm's revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS.

Other analysts also recently issued research reports about the company. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Morgan Stanley increased their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Barclays raised their price target on Garmin from $238.00 to $297.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. UBS Group set a $370.00 price target on shares of Garmin in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Garmin from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $310.17.

Garmin Stock Performance

GRMN opened at $312.26 on Friday. Garmin has a fifty-two week low of $186.67 and a fifty-two week high of $314.28. The stock has a market cap of $60.22 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 3.46 and a beta of 0.87. The firm's fifty day moving average is $255.57 and its 200 day moving average is $243.57.

Insider Activity

In related news, CFO Douglas G. Boessen sold 2,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 4,029 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total value of $1,208,700.00. Following the completion of the transaction, the chief executive officer directly owned 120,127 shares in the company, valued at approximately $36,038,100. This trade represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 8,810 shares of company stock valued at $2,478,157. Insiders own 14.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Groupe la Francaise raised its holdings in shares of Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter valued at approximately $34,000. Archer Investment Corp purchased a new position in Garmin during the first quarter valued at approximately $37,000. Finally, Torren Management LLC bought a new position in Garmin in the fourth quarter worth approximately $41,000. 81.60% of the stock is currently owned by institutional investors.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Zacks Research raised Garmin’s FY2026 EPS estimate to $10.00 from $9.35, FY2027 EPS to $10.32 from $9.82, and FY2028 EPS to $11.00 from $10.93. The firm reiterated its “Strong-Buy” rating. MarketBeat Garmin analyst estimates
• Positive Sentiment: Quarterly forecasts were also increased: Q1 2027 EPS rose to $2.03 from $1.95, Q3 2027 to $2.66 from $2.55, and Q1 2028 to $2.14 from $2.02. These revisions suggest analysts see better earnings momentum across Garmin’s product categories. MarketBeat Garmin earnings estimates
• Positive Sentiment: A Zacks article highlighted Garmin among technology stocks that may be positioned to beat quarterly earnings estimates under the firm’s Earnings ESP methodology, potentially improving investor expectations ahead of future results. Why Investors Need to Take Advantage of These 2 Computer and Technology Stocks Now
• Neutral Sentiment: The estimate changes are not uniformly positive: Zacks trimmed Q4 2026 EPS to $2.79 from $2.81 and Q4 2027 EPS to $3.17 from $3.18. However, the reductions are minor and do not alter the firm’s bullish rating.

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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