Garmin (GRMN) Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Garmin in the last year. There are currently 4 hold ratings, 1 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" GRMN shares.
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6 brokerages have issued 12-month price targets for Garmin's stock. Their GRMN share price forecasts range from $99.00 to $165.00. On average, they anticipate the company's stock price to reach $118.80 in the next year. This suggests a possible upside of 12.1% from the stock's current price.
View analysts price targets for GRMN or view top-rated stocks among Wall Street analysts.

Garmin's stock was trading at $92.29 at the start of the year. Since then, GRMN stock has increased by 14.8% and is now trading at $105.94.
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Garmin saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 3,430,000 shares, an increase of 6.5% from the April 30th total of 3,220,000 shares. Based on an average daily volume of 825,700 shares, the days-to-cover ratio is currently 4.2 days. Currently, 2.2% of the company's shares are sold short.
View Garmin's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 26th 2023.
View our GRMN earnings forecast.

Garmin Ltd. (NYSE:GRMN) released its quarterly earnings data on Wednesday, May, 3rd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The scientific and technical instruments company earned $1.15 billion during the quarter, compared to analysts' expectations of $1.09 billion. Garmin had a net margin of 19.94% and a trailing twelve-month return on equity of 15.98%. The firm's revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 EPS.

Garmin announced a quarterly dividend on Wednesday, February 22nd. Investors of record on Tuesday, June 20th will be given a dividend of $0.73 per share on Friday, June 30th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, June 16th.
Read our dividend analysis for GRMN.

ETFs with the largest weight of Garmin (NYSE:GRMN) stock in their portfolio include Timothy Plan Market Neutral ETF (TPMN), Global X Internet of Things Thematic ETF (SNSR), Procure Space ETF (UFO), Formidable Fortress ETF (KONG), Fidelity Electric Vehicles and Future Transportation ETF (FDRV), Invesco Dynamic Networking ETF (PXQ), First Trust Capital Strength ETF (FTCS) and Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RCD).

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 58.40%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GRMN will have a dividend payout ratio of 50.26% 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, May, 3rd. The company provided EPS guidance of $5.15-$5.15 for the period, compared to the consensus estimate of $5.23. The company issued revenue guidance of $5.00 billion-$5.00 billion, compared to the consensus revenue estimate of $5.01 billion.

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

Garmin's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (7.86%), Artisan Partners Limited Partnership (3.63%), State Street Corp (3.24%), Geode Capital Management LLC (1.79%), First Trust Advisors LP (1.49%) and Bank of New York Mellon Corp (1.12%). Insiders that own company stock include Clifton A Pemble, Clifton A Pemble, 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 $105.94.

Garmin (NYSE:GRMN) has a market capitalization of $20.27 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 $5.00 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.