Zacks Research Has Pessimistic Outlook of Garmin Q1 Earnings

Garmin Ltd. (NYSE:GRMN - Free Report) - Analysts at Zacks Research reduced their Q1 2026 earnings per share (EPS) estimates for Garmin in a research report issued to clients and investors on Tuesday, October 22nd. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings of $1.55 per share for the quarter, down from their previous forecast of $1.57. The consensus estimate for Garmin's current full-year earnings is $6.08 per share. Zacks Research also issued estimates for Garmin's Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $7.00 EPS.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. StockNews.com lowered shares of Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Barclays downgraded shares of Garmin from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. Finally, Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $158.50.

Garmin Stock Performance

GRMN stock traded up $0.35 on Thursday, hitting $161.93. 968,550 shares of the company's stock were exchanged, compared to its average volume of 831,663. The firm has a 50 day moving average price of $173.50 and a two-hundred day moving average price of $166.08. Garmin has a 12-month low of $99.61 and a 12-month high of $184.42. The stock has a market cap of $31.10 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $1.45 EPS. Garmin's revenue was up 14.3% on a year-over-year basis.

Insider Transactions at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company's stock, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Garmin news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares of the company's stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Garmin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin in the 2nd quarter worth approximately $31,000. Clearstead Trust LLC acquired a new position in shares of Garmin during the first quarter worth approximately $30,000. Family Firm Inc. bought a new stake in shares of Garmin in the second quarter valued at about $35,000. Benjamin Edwards Inc. boosted its stake in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Garmin in the 2nd quarter valued at approximately $46,000. Institutional investors own 73.41% of the company's stock.

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.