Garmin (NYSE:GRMN) Announces Earnings Results

Garmin (NYSE:GRMN - Get Free Report) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51, Zacks reports. 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 analyst estimates of $1.70 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. The business's quarterly revenue was up 22.9% compared to the same quarter last year. Garmin updated its FY 2025 guidance to 7.800-7.800 EPS and its FY25 guidance to approx $7.80 EPS.

Garmin Stock Down 1.9 %

Garmin stock traded down $4.34 during mid-day trading on Friday, reaching $224.67. 1,000,400 shares of the company's stock were exchanged, compared to its average volume of 822,602. The business's fifty day simple moving average is $213.24 and its 200 day simple moving average is $195.07. The firm has a market capitalization of $43.14 billion, a PE ratio of 30.73, a P/E/G ratio of 1.44 and a beta of 0.98. Garmin has a one year low of $131.20 and a one year high of $246.50.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.60%. Garmin's dividend payout ratio (DPR) is 41.04%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GRMN shares. JPMorgan Chase & Co. upped their price target on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday. Morgan Stanley upgraded Garmin to a "sell" rating and lifted their price target for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. Barclays increased their price objective on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research note on Thursday. Finally, Tigress Financial lifted their target price on Garmin from $215.00 to $265.00 and gave the company a "strong-buy" rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $195.67.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.54% of the stock is currently owned by corporate 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.