Garmin (NYSE:GRMN) Issues FY25 Earnings Guidance

Garmin (NYSE:GRMN) updated its FY25 earnings guidance on Wednesday. The company provided EPS guidance of approx $7.80 for the period, compared to the consensus EPS estimate of $7.77. The company issued revenue guidance of approx $6.80 billion, compared to the consensus revenue estimate of $6.72 billion. Garmin also updated its FY 2025 guidance to 7.800-7.800 EPS.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GRMN. Morgan Stanley raised Garmin to a “sell” rating and increased their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial increased their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. raised Garmin to a “neutral” rating and increased their price target for the stock from $212.00 to $219.00 in a research report on Friday, February 14th. Finally, Barclays raised their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three investment 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’s stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus price target of $183.83.

Garmin Stock Performance

Shares of NYSE GRMN traded up $28.35 during midday trading on Wednesday, reaching $243.13. 3,047,735 shares of the stock were exchanged, compared to its average volume of 803,428. Garmin has a twelve month low of $121.20 and a twelve month high of $246.50. The company has a 50 day simple moving average of $212.63 and a 200 day simple moving average of $194.17. The stock has a market capitalization of $46.69 billion, a P/E ratio of 30.85, a PEG ratio of 1.27 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, research analysts expect that Garmin will post 7.09 earnings per share for the current year.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.54% of the stock is owned by insiders.

About Garmin

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.