Garmin (NYSE:GRMN) Updates FY 2026 Earnings Guidance

Garmin (NYSE:GRMN) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided EPS guidance of 10.000-10.000 for the period, compared to the consensus estimate of 9.570. The company issued revenue guidance of $8.1 billion-$8.1 billion, compared to the consensus revenue estimate of $8.0 billion.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GRMN shares. Tigress Financial increased their price target on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. raised their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barclays cut their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Up 4.5%

GRMN stock opened at $253.45 on Wednesday. Garmin has a twelve month low of $186.67 and a twelve month high of $273.32. The firm has a market cap of $48.88 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.86 and a beta of 0.90. The business’s fifty day simple moving average is $239.62 and its two-hundred day simple moving average is $235.51.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Research analysts expect that Garmin will post 9.53 EPS for the current year.

Insider Buying and Selling

In related news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Garmin

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Garmin in the fourth quarter valued at about $214,382,000. Lazard Asset Management LLC grew its holdings in Garmin by 530.5% during the 3rd quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after acquiring an additional 295,914 shares in the last quarter. Voloridge Investment Management LLC increased its position in Garmin by 167.5% during the 4th quarter. Voloridge Investment Management LLC now owns 391,033 shares of the scientific and technical instruments company’s stock valued at $79,321,000 after purchasing an additional 244,846 shares during the period. Janus Henderson Group PLC increased its position in Garmin by 77.1% during the 4th quarter. Janus Henderson Group PLC now owns 443,596 shares of the scientific and technical instruments company’s stock valued at $89,984,000 after purchasing an additional 193,155 shares during the period. Finally, Man Group plc raised its holdings in shares of Garmin by 302.5% in the 3rd quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock valued at $60,245,000 after purchasing an additional 183,889 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.