Garmin (NYSE:GRMN) Updates FY 2026 Earnings Guidance

Garmin (NYSE:GRMN) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.350-9.350 for the period, compared to the consensus earnings per share estimate of 9.390. The company issued revenue guidance of $7.9 billion-$7.9 billion, compared to the consensus revenue estimate of $8.0 billion.

Garmin Stock Down 0.6%

Shares of NYSE GRMN traded down $1.49 during trading on Thursday, reaching $251.59. 361,620 shares of the company traded hands, compared to its average volume of 924,873. The firm has a 50 day simple moving average of $247.19 and a 200-day simple moving average of $223.23. The stock has a market capitalization of $48.53 billion, a PE ratio of 29.25, a P/E/G ratio of 3.08 and a beta of 0.96. Garmin has a 52-week low of $183.64 and a 52-week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts predict that Garmin will post 9.41 EPS for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is presently 48.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GRMN. Barclays dropped their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Morgan Stanley set a $249.00 price target on Garmin in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $268.40.

Insiders Place Their Bets

In other news, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the completion of the transaction, the vice president owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the transaction, the executive vice president directly owned 9,876 shares of the company’s stock, valued at $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 40,725 shares of company stock valued at $10,213,222. Insiders own 19.54% of the company’s stock.

Key Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Q1 beats and strength: Garmin reported stronger‑than‑expected Q1 results (EPS $2.08 vs. $1.84 est.; revenue +14% to $1.75B) and record quarterly revenue and operating income, which drove early upside in the share price. Garmin stock jumps 6% on strong first quarter results
• Positive Sentiment: Fitness and wearables surge: Fitness segment revenue jumped materially (reports cite ~42% growth), driven by premium wearables — a key higher‑margin growth driver cited on the call. Record Revenue and Strong Fitness Segment Growth
• Neutral Sentiment: Corporate disclosure and materials: The full earnings release, slide deck and call transcript are available for detailed review (useful for modeling segment-level trends and margin assumptions). Garmin announces first quarter 2026 results
• Neutral Sentiment: Earnings call detail: Management highlighted strength in fitness, steady aviation/marine demand and provided color on inventory and channel dynamics — read the transcript/slides to assess whether growth is sustainable. Q1 2026 Earnings Call Transcript
• Negative Sentiment: Conservative FY guide: Garmin set FY2026 EPS at 9.35 (vs. consensus ~9.39) and revenue guidance of ~$7.9B (vs. ~$8.0B consensus). That slight miss on guide trimmed upside and may pressure expectations if back‑half growth slows. Guidance and earnings materials
• Negative Sentiment: Back‑half caution and market reaction: Analysts and commentaries flagged possible back‑half headwinds; some coverage notes the stock cooled after the initial jump despite the strong quarter, reflecting concern that upside may be front‑loaded. Analysis: potential back-half headwinds

Institutional Investors Weigh In On Garmin

Institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors Inc. bought a new position in shares of Garmin during the 4th quarter valued at approximately $34,000. DV Equities LLC purchased a new stake in shares of Garmin in the fourth quarter valued at $46,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Garmin by 23.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 53 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Garmin during the 4th quarter worth about $62,000. Finally, State of Wyoming boosted its stake in shares of Garmin by 26.2% during the 4th quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 73 shares during the period. 81.60% of the stock is owned by institutional investors.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.