Yahoo Finance Garmin (GRMN) Rises As Market Takes a Dip: Key Facts
Garmin (GRMN) closed at $162.92 in the latest trading session, marking a +0.56% move from the prior day. This move outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 0.71%.
Heading into today, shares of the maker of personal navigation devices had lost 0.47% over the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.53% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Garmin in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company's earnings per share (EPS) are projected to be $1.45, reflecting no change from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.48 billion, indicating a 11.95% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.77 per share and revenue of $5.9 billion, indicating changes of +3.22% and +12.94%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Garmin. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Garmin boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Garmin is presently being traded at a Forward P/E ratio of 28.07. This expresses a premium compared to the average Forward P/E of 20.48 of its industry.
Investors should also note that GRMN has a PEG ratio of 3.49 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Electronics - Miscellaneous Products was holding an average PEG ratio of 2.66 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Garmin Ltd. (GRMN) : Free Stock Analysis Report
