Zacks Research Weighs in on Garmin's Q3 Earnings (NYSE:GRMN)

Key Points

• Zacks Research has upgraded Garmin's Q3 2025 EPS estimate to $1.95 from a previous $1.89, while the consensus for the full year stands at $7.80 per share.
• Garmin reported $2.17 EPS in its latest quarter, surpassing the estimate of $1.90 and achieving 20.4% revenue growth year-over-year.
• Institutional ownership of Garmin stock has increased significantly, with major investors including Ossiam and California Public Employees Retirement System expanding their positions recently.

Garmin Ltd. (NYSE:GRMN - Free Report) - Investment analysts at Zacks Research boosted their Q3 2025 earnings per share (EPS) estimates for Garmin in a report released on Wednesday, August 13th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings per share of $1.95 for the quarter, up from their prior forecast of $1.89. The consensus estimate for Garmin's current full-year earnings is $7.80 per share. Zacks Research also issued estimates for Garmin's Q4 2025 earnings at $2.26 EPS, Q2 2026 earnings at $2.07 EPS, Q3 2026 earnings at $2.07 EPS, Q4 2026 earnings at $2.43 EPS, FY2026 earnings at $8.19 EPS and Q1 2027 earnings at $1.93 EPS.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.27. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%. The firm's quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Barclays restated an "underweight" rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $222.00.

Garmin Stock Performance

NYSE:GRMN opened at $236.59 on Thursday. The firm has a market capitalization of $45.54 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 2.59 and a beta of 0.99. Garmin has a 52-week low of $160.94 and a 52-week high of $246.50. The stock has a fifty day moving average of $217.02 and a 200 day moving average of $209.85.

Institutional Trading of Garmin

Several large investors have recently bought and sold shares of the company. Ossiam boosted its position in Garmin by 161.8% during the 2nd quarter. Ossiam now owns 11,321 shares of the scientific and technical instruments company's stock valued at $2,363,000 after acquiring an additional 6,996 shares in the last quarter. California Public Employees Retirement System boosted its position in Garmin by 7.1% during the 2nd quarter. California Public Employees Retirement System now owns 271,546 shares of the scientific and technical instruments company's stock valued at $56,677,000 after acquiring an additional 17,903 shares in the last quarter. Jump Financial LLC boosted its position in Garmin by 42.5% during the 2nd quarter. Jump Financial LLC now owns 110,239 shares of the scientific and technical instruments company's stock valued at $23,009,000 after acquiring an additional 32,874 shares in the last quarter. Cresset Asset Management LLC boosted its position in Garmin by 415.9% during the 2nd quarter. Cresset Asset Management LLC now owns 5,494 shares of the scientific and technical instruments company's stock valued at $1,147,000 after acquiring an additional 4,429 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Garmin by 1.4% during the 2nd quarter. Brown Advisory Inc. now owns 13,305 shares of the scientific and technical instruments company's stock valued at $2,777,000 after acquiring an additional 187 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the transaction, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. The trade was a 5.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value of $399,685.00. Following the transaction, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is owned by insiders.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.5%. Garmin's dividend payout ratio is presently 44.39%.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

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