Garmin (NYSE:GRMN) Updates FY 2026 Earnings Guidance

Garmin (NYSE:GRMN) updated 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 earnings per share 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.

Garmin Price Performance

Shares of GRMN traded down $3.33 during mid-day trading on Thursday, hitting $291.50. 516,925 shares of the company’s stock were exchanged, compared to its average volume of 911,336. Garmin has a 52 week low of $186.67 and a 52 week high of $304.00. The company has a 50-day simple moving average of $240.78 and a 200 day simple moving average of $236.09. The company has a market cap of $56.22 billion, a PE ratio of 32.62, a P/E/G ratio of 3.00 and a beta of 0.90.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.30 by $0.51. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, analysts anticipate that Garmin will post 9.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRMN. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. JPMorgan Chase & Co. boosted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barclays boosted their price target on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a research note on Thursday. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $281.20.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred 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 directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the 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 sale, the director directly owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by company insiders.

Key Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Quarterly results exceeded expectations. Garmin reported $2.81 in adjusted earnings per share versus the $2.30 consensus estimate, while revenue rose 11.4% year over year to $2.02 billion, ahead of the $1.93 billion forecast. Garmin announces second quarter 2026 results
• Positive Sentiment: Fitness and wearables remain the key growth engines. Garmin’s Fitness segment reportedly grew about 25%, reinforcing investor optimism that health-conscious consumers, connected devices and wearable technology can sustain strong demand. Garmin revenue increases 11% in Q2 as Fitness sales soar
• Positive Sentiment: Garmin raised its full-year outlook. The company now expects approximately $10.00 in fiscal 2026 EPS and $8.1 billion in revenue, above consensus estimates of roughly $9.57 EPS and $8.0 billion in revenue. Garmin’s Fitness Business Explodes 25%, Stock Surges
• Neutral Sentiment: Recent acquisitions of TrainingPeaks and TrainHeroic expand Garmin’s coaching and fitness software ecosystem, potentially adding recurring digital revenue, though the financial contribution has not yet been established.
• Negative Sentiment: Growth expectations are elevated. Analysts and commentary caution that Garmin’s recent momentum may be difficult to maintain, while the stock’s valuation—around 32 times earnings and near its 52-week high—leaves less room for execution disappointments. Garmin: Impressive Growth Likely Can’t Go On Forever

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of 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 worth $401,000 after buying an additional 463 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after acquiring an additional 242 shares during the period. Shelton Capital Management bought a new position in Garmin during the third quarter worth $212,000. Summit Global Investments bought a new position in Garmin during the fourth quarter worth $210,000. Finally, Perbak Capital Partners LLP acquired a new stake in Garmin in the third quarter worth $208,000. 81.60% of the stock is owned by institutional investors and hedge funds.

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.