Zacks Research Issues Negative Forecast for Garmin Earnings

Garmin Ltd. (NYSE:GRMN) – Analysts at Zacks Research dropped their Q1 2026 EPS estimates for shares of Garmin in a report released on Tuesday, October 22nd. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings per share of $1.55 for the quarter, down from their prior estimate of $1.57. The consensus estimate for Garmin’s current full-year earnings is $6.08 per share. Zacks Research also issued estimates for Garmin’s Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $7.00 EPS.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 EPS.

A number of other equities research analysts have also recently weighed in on GRMN. Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $181.00 to $133.00 in a research report on Friday, September 13th. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and an average price target of $158.50.

Garmin Trading Up 0.2 %

Shares of Garmin stock opened at $162.30 on Thursday. The company has a fifty day simple moving average of $173.31 and a 200-day simple moving average of $166.17. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.85 and a beta of 0.99. Garmin has a 12-month low of $99.61 and a 12-month high of $184.42.

Hedge Funds Weigh In On Garmin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new stake in shares of Garmin in the first quarter valued at approximately $1,389,000. LBP AM SA boosted its position in shares of Garmin by 81.4% during the 1st quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Garmin by 3.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock worth $25,861,000 after purchasing an additional 5,945 shares during the period. Cetera Investment Advisers increased its holdings in shares of Garmin by 51.7% in the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock valued at $4,227,000 after purchasing an additional 9,681 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Garmin by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock valued at $26,500,000 after purchasing an additional 7,553 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Activity at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 in the last quarter. Company insiders own 19.54% of the company’s stock.

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.