Garmin (NYSE:GRMN) Posts Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Garmin (NYSE:GRMN) announced its earnings results on Wednesday. The scientific and technical instruments company reported $2.41 EPS 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 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 prior year, the company posted $1.72 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Garmin updated its FY 2025 guidance to 7.800-7.800 EPS and its FY25 guidance to approx $7.80 EPS.

Garmin Stock Performance

Shares of Garmin stock opened at $226.02 on Friday. The stock has a market capitalization of $43.40 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.44 and a beta of 0.98. Garmin has a 52-week low of $131.20 and a 52-week high of $246.50. The stock’s 50-day simple moving average is $212.99 and its 200 day simple moving average is $194.84.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors 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 1.59%. Garmin’s payout ratio is 41.04%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.54% 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.