Garmin (GRMN) to Release Quarterly Earnings on Wednesday

Garmin (NYSE:GRMN - Get Free Report) is anticipated to announce its Q1 2025 earnings results before the market opens on Wednesday, April 30th. Analysts expect the company to announce earnings of $1.62 per share and revenue of $1.50 billion for the quarter. Garmin has set its FY 2025 guidance at 7.800-7.800 EPS and its FY25 guidance at approx $7.80 EPS.

Garmin (NYSE:GRMN - Get Free Report) last released 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 net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The company's quarterly revenue was up 22.9% on a year-over-year basis. On average, analysts expect Garmin to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Garmin Stock Up 2.4 %

Shares of NYSE:GRMN opened at $191.40 on Wednesday. Garmin has a 12-month low of $140.46 and a 12-month high of $246.50. The business has a 50 day moving average of $208.18 and a 200-day moving average of $205.03. The stock has a market cap of $36.83 billion, a PE ratio of 26.18, a P/E/G ratio of 1.36 and a beta of 0.92.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio is 49.25%.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several analyst reports. Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Barclays boosted their price target on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a "sell" rating and upped their price target for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Garmin from $260.00 to $220.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Garmin currently has an average rating of "Hold" and a consensus price target of $202.80.

Insider Buying and Selling

In other news, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the sale, the chief operating officer now owns 63,048 shares of the company's stock, valued at $14,321,353.20. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Garmin stock. Brighton Jones LLC boosted its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,943 shares of the scientific and technical instruments company's stock after acquiring an additional 463 shares during the period. Brighton Jones LLC's holdings in Garmin were worth $401,000 as of its most recent SEC filing. 81.60% of the stock is owned by institutional investors.

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.

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