Zacks Research Brokers Raise Earnings Estimates for Garmin

Garmin Ltd. (NYSE:GRMN) – Analysts at Zacks Research lifted their Q2 2027 earnings per share (EPS) estimates for Garmin in a research report issued to clients and investors on Wednesday, August 12th. Zacks Research analyst Team now forecasts that the scientific and technical instruments company will post earnings of $2.46 per share for the quarter, up from their previous forecast of $2.14. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Garmin’s current full-year earnings is $10.08 per share. Zacks Research also issued estimates for Garmin’s Q2 2028 earnings at $2.69 EPS.

A number of other research firms have also recently commented on GRMN. Morgan Stanley increased their target price on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. UBS Group set a $370.00 price target on Garmin in a research report on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Finally, Barclays raised their price objective on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Garmin currently has an average rating of “Moderate Buy” and an average target price of $310.17.

Garmin Stock Up 0.7%

Shares of Garmin stock opened at $312.26 on Friday. The company has a market cap of $60.22 billion, a P/E ratio of 32.19, a PEG ratio of 3.46 and a beta of 0.87. The firm’s 50 day moving average price is $255.57 and its 200-day moving average price is $243.57. Garmin has a 52-week low of $186.67 and a 52-week high of $314.28.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS.

Insider Activity at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $291.13, for a total transaction of $335,381.76. Following the completion of the transaction, the vice president directly owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. This represents a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,810 shares of company stock worth $2,478,157 in the last 90 days. 14.80% of the stock is owned by insiders.

Institutional Trading of Garmin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Brighton Jones LLC grew its stake in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after purchasing an additional 345 shares during the period. Woodline Partners LP lifted its holdings in shares of Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after purchasing an additional 3,757 shares during the period. Focus Partners Wealth boosted its position in Garmin by 51.1% in the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in Garmin by 17.0% in the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Key Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Zacks Research raised Garmin’s FY2026 EPS estimate to $10.00 from $9.35, FY2027 EPS to $10.32 from $9.82, and FY2028 EPS to $11.00 from $10.93. The firm reiterated its “Strong-Buy” rating. MarketBeat Garmin analyst estimates
• Positive Sentiment: Quarterly forecasts were also increased: Q1 2027 EPS rose to $2.03 from $1.95, Q3 2027 to $2.66 from $2.55, and Q1 2028 to $2.14 from $2.02. These revisions suggest analysts see better earnings momentum across Garmin’s product categories. MarketBeat Garmin earnings estimates
• Positive Sentiment: A Zacks article highlighted Garmin among technology stocks that may be positioned to beat quarterly earnings estimates under the firm’s Earnings ESP methodology, potentially improving investor expectations ahead of future results. Why Investors Need to Take Advantage of These 2 Computer and Technology Stocks Now
• Neutral Sentiment: The estimate changes are not uniformly positive: Zacks trimmed Q4 2026 EPS to $2.79 from $2.81 and Q4 2027 EPS to $3.17 from $3.18. However, the reductions are minor and do not alter the firm’s bullish rating.

About Garmin

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.