Garmin (GRMN) Stock Forecast, Price & News

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Garmin in the last twelve months. There are currently 4 hold ratings, 1 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" GRMN shares.
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6 Wall Street analysts have issued 1 year price objectives for Garmin's shares. Their GRMN share price forecasts range from $103.00 to $165.00. On average, they expect the company's share price to reach $123.20 in the next year. This suggests a possible upside of 19.7% from the stock's current price.
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Garmin's stock was trading at $92.29 at the start of the year. Since then, GRMN shares have increased by 11.5% and is now trading at $102.90.
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Garmin saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 3,310,000 shares, an increase of 11.4% from the August 31st total of 2,970,000 shares. Based on an average daily volume of 746,800 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.2% of the shares of the stock are sold short.
View Garmin's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 25th 2023.
View our GRMN earnings forecast.

Garmin Ltd. (NYSE:GRMN) released its quarterly earnings data on Wednesday, August, 2nd. The scientific and technical instruments company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.02. The scientific and technical instruments company earned $1.32 billion during the quarter, compared to the consensus estimate of $1.26 billion. Garmin had a net margin of 20.23% and a trailing twelve-month return on equity of 15.81%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 earnings per share.

Garmin declared a quarterly dividend on Friday, June 16th. Investors of record on Friday, March 15th will be given a dividend of $0.73 per share on Friday, March 29th. This represents a $2.92 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, March 14th.
Read our dividend analysis for GRMN.

ETFs with the largest weight of Garmin (NYSE:GRMN) stock in their portfolio include Global X Internet of Things Thematic ETF (SNSR), Procure Space ETF (UFO), Invesco Next Gen Connectivity ETF (PXQ), Fidelity Electric Vehicles and Future Transportation ETF (FDRV), First Trust Capital Strength ETF (FTCS), Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RSPD), Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RCD) and Invesco Zacks Mid-Cap ETF (CZA).

Garmin (NYSE:GRMN) pays an annual dividend of $2.92 per share and currently has a dividend yield of 2.77%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 56.48%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GRMN will have a dividend payout ratio of 51.77% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GRMN.

Garmin issued an update on its FY 2023 earnings guidance on Wednesday, August, 2nd. The company provided earnings per share guidance of $5.15-$5.15 for the period, compared to the consensus estimate of $5.24. The company issued revenue guidance of $5.05 billion-$5.05 billion, compared to the consensus revenue estimate of $5.05 billion.

Garmin trades on the New York Stock Exchange (NYSE) under the ticker symbol "GRMN."

Garmin's stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.14%), Artisan Partners Limited Partnership (3.70%), State Street Corp (3.27%), Geode Capital Management LLC (1.83%), Bank of New York Mellon Corp (1.05%) and Dimensional Fund Advisors LP (0.86%). Insiders that own company stock include Cheng-Wei Wang, Clifton A Pemble, Clifton A Pemble, Douglas G Boessen, Douglas G Boessen, Jonathan Burrell, Matthew Munn, Patrick Desbois, Philip Straub and Sean Biddlecombe.
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Shares of GRMN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GRMN stock can currently be purchased for approximately $102.90.

Garmin (NYSE:GRMN) has a market capitalization of $19.70 billion and generates $4.86 billion in revenue each year. The scientific and technical instruments company earns $973.59 million in net income (profit) each year or $5.17 on an earnings per share basis.

The company employs 19,700 workers across the globe.

Garmin's mailing address is MUHLENTALSTRASSE 2, SCHAFFHAUSEN V8, CH-8200. The official website for the company is www.garmin.com. The scientific and technical instruments company can be reached via phone at (152) 630-1600, via email at investor.relations@garmin.com, or via fax at 1-345-945-3390.