KeyCorp Forecasts Garmin's Q1 Earnings (NYSE:GRMN)

Garmin Ltd. (NYSE:GRMN - Free Report) - Analysts at KeyCorp issued their Q1 2025 earnings estimates for shares of Garmin in a research report issued to clients and investors on Wednesday, April 16th. KeyCorp analyst N. Zatzkin forecasts that the scientific and technical instruments company will post earnings of $1.56 per share for the quarter. The consensus estimate for Garmin's current full-year earnings is $7.80 per share. KeyCorp also issued estimates for Garmin's Q2 2025 earnings at $1.94 EPS, Q3 2025 earnings at $1.92 EPS, Q4 2025 earnings at $2.29 EPS, FY2025 earnings at $7.71 EPS and FY2026 earnings at $8.16 EPS.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business's revenue was up 22.9% on a year-over-year basis.

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

Garmin Trading Up 2.2 %

Shares of GRMN traded up $4.22 on Friday, reaching $195.63. 424,181 shares of the company's stock were exchanged, compared to its average volume of 872,526. The business has a 50 day moving average price of $208.18 and a two-hundred day moving average price of $205.03. The stock has a market capitalization of $37.64 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Garmin has a 12 month low of $140.46 and a 12 month high of $246.50.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.84%. Garmin's dividend payout ratio is 49.25%.

Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,763 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $226.55, for a total value of $625,957.65. Following the transaction, the chief financial officer now directly owns 30,936 shares in the company, valued at $7,008,550.80. The trade was a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock worth $5,486,094 in the last quarter. Corporate insiders own 19.54% of the company's stock.

Institutional Trading of Garmin

Several hedge funds and other institutional investors have recently bought and sold shares of GRMN. Golden State Wealth Management LLC acquired a new position in Garmin in the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after acquiring an additional 121 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in shares of Garmin during the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin in the fourth quarter valued at approximately $37,000. Finally, Garde Capital Inc. acquired a new position in Garmin during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.60% of the company's stock.

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.