Garmin (NYSE:GRMN) Updates FY25 Earnings Guidance

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

Garmin Stock Performance

Shares of NYSE:GRMN traded down $3.19 during midday trading on Friday, hitting $225.82. 126,393 shares of the company’s stock traded hands, compared to its average volume of 809,752. The firm’s fifty day moving average price is $212.99 and its two-hundred day moving average price is $194.84. The company has a market cap of $43.36 billion, a PE ratio of 30.89, a P/E/G ratio of 1.44 and a beta of 0.98. Garmin has a twelve month low of $131.20 and a twelve month high of $246.50.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping 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 company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The company’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts anticipate that Garmin will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is 41.04%.

Analysts Set New Price Targets

GRMN has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Garmin to a “sell” rating and boosted their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday. Barclays boosted their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Tigress Financial upped their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $195.67.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’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 directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 19.54% 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.