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Garmin (GRMN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Garmin (GRMN - Free Report) closed at $121.37, marking a -1.65% move from the previous day. This change lagged the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.
Coming into today, shares of the maker of personal navigation devices had lost 9.22% in the past month. In that same time, the Computer and Technology sector lost 11.78%, while the S&P 500 lost 6.58%.
Investors will be hoping for strength from Garmin as it approaches its next earnings release, which is expected to be February 16, 2022. On that day, Garmin is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 18.5%. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 1.01% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Garmin. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.93% higher. Garmin is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Garmin is holding a Forward P/E ratio of 19.68. Its industry sports an average Forward P/E of 19.68, so we one might conclude that Garmin is trading at a no noticeable deviation comparatively.
Investors should also note that GRMN has a PEG ratio of 2.89 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GRMN's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Garmin (GRMN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Garmin (GRMN - Free Report) closed at $121.37, marking a -1.65% move from the previous day. This change lagged the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.
Coming into today, shares of the maker of personal navigation devices had lost 9.22% in the past month. In that same time, the Computer and Technology sector lost 11.78%, while the S&P 500 lost 6.58%.
Investors will be hoping for strength from Garmin as it approaches its next earnings release, which is expected to be February 16, 2022. On that day, Garmin is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 18.5%. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 1.01% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Garmin. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.93% higher. Garmin is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Garmin is holding a Forward P/E ratio of 19.68. Its industry sports an average Forward P/E of 19.68, so we one might conclude that Garmin is trading at a no noticeable deviation comparatively.
Investors should also note that GRMN has a PEG ratio of 2.89 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GRMN's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.