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Garmin Raises Quarterly Dividends to $1.05 a Share Through March 2027; June Quarter Dividend Payable June 26 to Shareholders of Record as of June 15
Garmin (GRMN) has an average rating of hold and mean price target of $260.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $249.41, Change: $-3.68, Percent Change: -1.45%
Garmin (GRMN) posted modestly better-than-expected Q1 results, with the fitness segment again standing out, Morgan Stanley said Wednesday in a report.The fitness business delivered "outsized growth," with revenue acceleration at an 11-year high and gross margins expanding by 470 basis points, the report said.Garmin's unchanged full-year outlook is "typical this early in the year," with room for estimates to move higher, Morgan Stanley said. Management also does not expect a deterioration in high-end consumer spending, with demand remaining strong and resilient to geopolitical tensions, the report said.While inflation in component costs is expected to have only a small effect this year, Morgan Stanley said it will likely become a headwind in 2027.The firm raised its 2026 EPS estimate to $9.80 from $9.50 on better-than-expected profitability. Its 2027 EPS forecast is now $10.36, down 1%, partly reflecting expectations for higher component costs next year.Morgan Stanley lowered its price target on Garmin stock to $249 from $252 and maintained its equal-weight rating.Price: $249.33, Change: $-3.75, Percent Change: -1.48%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price by $54 to $255, applying a wider equity risk premium and a forward P/E of 24.5x our 2027 earnings estimate, just above the five-year historical average of 23.7x. We raise our 2026 EPS estimate by $0.01 to $9.35 and our 2027 estimate by $0.51 to $10.40 per share. Our revenue projections are $7.9B for 2026 and $8.7B for 2027. The primary driver is higher unit volumes, resulting in meaningful market share gains. During Q1 2026, GRMN achieved double-digit growth in three of its five segments, led by the Fitness segment with 42% growth, followed by the Aviation segment with 18% growth, and Marine segment 11% growth. By geography, GRMN realized growth in all three regions, led by 25% growth in APAC followed by EMEA with 15% growth, and 10% growth in Americas. EMEA and APAC regions benefited from favorable foreign currency impacts. The Fitness segment is expected to be the strongest contributor to growth in 2026.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:GRMN delivered exceptional Q1 2026 results with record revenue of $1.75B (+14% Y/Y) and pro forma EPS of $2.08 (+29% Y/Y), demonstrating strong operational leverage as operating margins expanded 290 bps to 24.6%. The quarter showcased significant margin expansion with gross margins improving 180 bps to 59.4% while operating income surged 30% to $431.7M. The Fitness segment led performance with exceptional 42% growth to $546.8M, while Aviation (+18%) and Marine (+11%) maintained strong double-digit trajectories, though Outdoor declined 5% against tough comparisons. Auto OEM realized 1% Y/Y growth. We believe the quarter demonstrates GRMN's ability to drive profitability growth significantly exceeding top-line expansion across its diversified portfolio. The company's robust $4.31B cash position and $469.4M free cash flow generation provide strategic flexibility for continued innovation and capital returns. Management maintained its confident full-year guidance of $7.9B revenue and $9.35 pro forma EPS for 2026.
Garmin (GRMN) has an average rating of hold and mean price target of $261.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
