Zacks Research Weighs in on Garmin’s Q3 Earnings (NYSE:GRMN)

Garmin Ltd. (NYSE:GRMN) – Equities researchers at Zacks Research boosted their Q3 2025 EPS estimates for shares of Garmin in a note issued to investors on Wednesday, August 13th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings of $1.95 per share for the quarter, up from their previous forecast of $1.89. The consensus estimate for Garmin’s current full-year earnings is $7.80 per share. Zacks Research also issued estimates for Garmin’s Q4 2025 earnings at $2.26 EPS, Q2 2026 earnings at $2.07 EPS, Q3 2026 earnings at $2.07 EPS, Q4 2026 earnings at $2.43 EPS, FY2026 earnings at $8.19 EPS and Q1 2027 earnings at $1.93 EPS.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis.

Several other research firms also recently issued reports on GRMN. Barclays reaffirmed an “underweight” rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Morgan Stanley raised their price objective on shares of Garmin from $172.00 to $186.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $222.00.

Garmin Price Performance

Garmin stock opened at $232.38 on Thursday. Garmin has a 12-month low of $160.94 and a 12-month high of $246.50. The company has a market capitalization of $44.73 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The firm’s fifty day moving average price is $218.12 and its 200 day moving average price is $210.10.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.5%. Garmin’s dividend payout ratio is presently 44.39%.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the sale, the chief executive officer owned 141,626 shares of the company’s stock, valued at $28,785,484.50. This represents a 5.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the sale, the chief financial officer directly owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Garmin during the 2nd quarter valued at about $410,304,000. Vanguard Group Inc. boosted its stake in Garmin by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after purchasing an additional 1,273,163 shares during the period. GAMMA Investing LLC boosted its stake in Garmin by 25,047.9% during the 1st quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company’s stock valued at $192,259,000 after purchasing an additional 881,935 shares during the period. AQR Capital Management LLC lifted its stake in shares of Garmin by 79.3% in the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock worth $340,574,000 after acquiring an additional 700,967 shares during the period. Finally, Amundi lifted its stake in shares of Garmin by 138.0% in the 2nd quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock worth $247,255,000 after acquiring an additional 671,859 shares during the period. 81.60% of the stock is currently owned by institutional investors.

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.