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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GRMN. Morgan Stanley upgraded Garmin to a “sell” rating and boosted their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. upgraded Garmin to a “neutral” rating and boosted their price target for the company from $212.00 to $219.00 in a report on Friday, February 14th. Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial upped their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $183.83.

Garmin Trading Up 13.2 %

Shares of GRMN traded up $28.35 during midday trading on Wednesday, hitting $243.13. 3,047,735 shares of the company’s stock traded hands, compared to its average volume of 803,428. Garmin has a 1 year low of $121.20 and a 1 year high of $246.50. The firm’s fifty day moving average is $212.63 and its 200-day moving average is $194.17. The stock has a market capitalization of $46.69 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

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

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by insiders.

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.