Brokers Issue Forecasts for Garmin’s Q1 Earnings (NYSE:GRMN)

Garmin Ltd. (NYSE:GRMN) – Equities research analysts at Zacks Research cut their Q1 2026 earnings estimates for Garmin in a research report issued to clients and investors on Tuesday, October 22nd. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will earn $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.

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

GRMN has been the topic of a number of other research reports. StockNews.com downgraded 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 cut their price target for the company from $181.00 to $133.00 in a report on Friday, September 13th. Tigress Financial lifted their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $158.50.

Garmin Price Performance

GRMN opened at $161.57 on Thursday. The business has a 50 day moving average price of $173.68 and a two-hundred day moving average price of $166.11. The company has a market capitalization of $31.03 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99. Garmin has a 1-year low of $99.61 and a 1-year high of $184.42.

Insider Transactions at Garmin

In other news, Director Philip Straub sold 2,750 shares of the stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Garmin news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock valued at $2,296,174 over the last ninety days. Corporate insiders own 19.54% of the company’s stock.

Hedge Funds Weigh In On Garmin

A number of hedge funds have recently added to or reduced their stakes in GRMN. GSA Capital Partners LLP bought a new stake in Garmin in the first quarter worth approximately $1,389,000. LBP AM SA raised its holdings in Garmin by 81.4% during the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after buying an additional 3,268 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Garmin by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock worth $25,861,000 after buying an additional 5,945 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Garmin by 51.7% during the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after acquiring an additional 9,681 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Garmin by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock valued at $26,500,000 after acquiring an additional 7,553 shares during the last quarter. Institutional investors and hedge funds 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.