Garmin (NYSE:GRMN) Issues FY25 Earnings Guidance

Garmin (NYSE:GRMN - Get Free Report) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of approx $7.80 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Tigress Financial raised their price objective on shares of Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a research report on Monday, December 16th. Barclays raised their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Morgan Stanley upgraded shares of Garmin to a "sell" rating and raised their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Three investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $195.67.

Garmin Stock Performance

Shares of NYSE GRMN traded down $4.34 during midday trading on Friday, reaching $224.67. The company's stock had a trading volume of 1,072,638 shares, compared to its average volume of 838,615. Garmin has a fifty-two week low of $131.20 and a fifty-two week high of $246.50. The business's 50 day moving average price is $213.24 and its two-hundred day moving average price is $195.07. The company has a market cap of $43.14 billion, a P/E ratio of 30.73, a P/E/G ratio of 1.44 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the business earned $1.72 earnings per share. The firm's quarterly revenue was up 22.9% on a year-over-year basis. Sell-side analysts forecast that Garmin will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.60%. Garmin's payout ratio is 41.04%.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were 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 trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 19.54% of the stock is currently 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.