Zacks Research Weighs in on Garmin's Q2 Earnings (NYSE:GRMN)

Key Points

• Zacks Research lowered its Q2 2026 EPS estimate for Garmin to $2.13 from $2.26 and kept a Hold rating on the stock.
• Garmin’s latest quarter beat expectations, reporting $2.08 EPS versus $1.84 expected and revenue of $1.75 billion versus $1.72 billion estimated, with revenue up 14% year over year.
• Analyst sentiment remains mixed but constructive, with an average Moderate Buy rating and an average price target of $268.40, while Garmin also pays a quarterly dividend of $1.05 per share.

Garmin Ltd. (NYSE:GRMN - Free Report) - Zacks Research lowered their Q2 2026 earnings per share estimates for Garmin in a research note issued on Wednesday, May 13th. Zacks Research analyst Team now expects that the scientific and technical instruments company will earn $2.13 per share for the quarter, down from their previous estimate of $2.26. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Garmin's current full-year earnings is $9.57 per share. Zacks Research also issued estimates for Garmin's Q3 2026 earnings at $2.32 EPS, Q4 2026 earnings at $2.81 EPS, Q1 2027 earnings at $1.95 EPS and Q4 2027 earnings at $3.18 EPS.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS.

GRMN has been the subject of several other reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Morgan Stanley set a $249.00 price objective on Garmin in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Tigress Financial upped their price target on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a research note on Friday, February 20th. Finally, Barclays decreased their price target on Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Garmin currently has an average rating of "Moderate Buy" and an average target price of $268.40.

Garmin Stock Performance

Shares of Garmin stock opened at $226.04 on Monday. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.66 and a beta of 0.94. Garmin has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The stock has a 50 day moving average of $244.83 and a 200 day moving average of $222.24.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, March 12th. Garmin's dividend payout ratio (DPR) is presently 40.13%.

Insiders Place Their Bets

In other news, COO Patrick Desbois sold 6,694 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total value of $1,684,545.10. Following the sale, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan Lyman sold 3,805 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the completion of the sale, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 40,246 shares of company stock valued at $10,110,041. 19.54% of the stock is owned by company insiders.

Institutional Trading of Garmin

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its stake in Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock valued at $401,000 after buying an additional 463 shares in the last quarter. NewEdge Advisors LLC raised its stake in 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 valued at $1,278,000 after buying an additional 345 shares in the last quarter. Woodline Partners LP raised its stake in 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 buying an additional 3,757 shares in the last quarter. Focus Partners Wealth raised its stake in Garmin by 51.1% in the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock valued at $1,479,000 after buying an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its stake in Garmin by 17.0% in the second 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 in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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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