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Garmin (GRMN) Stock Moves -0.59%: What You Should Know
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In the latest market close, Garmin (GRMN - Free Report) reached $170.07, with a -0.59% movement compared to the previous day. This change was narrower than the S&P 500's 0.71% loss on the day. Meanwhile, the Dow lost 0.93%, and the Nasdaq, a tech-heavy index, lost 0.81%.
The maker of personal navigation devices's shares have seen an increase of 6.95% over the last month, surpassing the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
The investment community will be closely monitoring the performance of Garmin in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's upcoming EPS is projected at $1.45, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 11.95% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.77 per share and a revenue of $5.9 billion, indicating changes of +3.22% and +12.94%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Garmin. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Garmin currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Garmin currently has a Forward P/E ratio of 29.64. This denotes a premium relative to the industry's average Forward P/E of 20.37.
We can additionally observe that GRMN currently boasts a PEG ratio of 3.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Miscellaneous Products industry was having an average PEG ratio of 2.83.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Garmin (GRMN) Stock Moves -0.59%: What You Should Know
In the latest market close, Garmin (GRMN - Free Report) reached $170.07, with a -0.59% movement compared to the previous day. This change was narrower than the S&P 500's 0.71% loss on the day. Meanwhile, the Dow lost 0.93%, and the Nasdaq, a tech-heavy index, lost 0.81%.
The maker of personal navigation devices's shares have seen an increase of 6.95% over the last month, surpassing the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
The investment community will be closely monitoring the performance of Garmin in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's upcoming EPS is projected at $1.45, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 11.95% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.77 per share and a revenue of $5.9 billion, indicating changes of +3.22% and +12.94%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Garmin. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Garmin currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Garmin currently has a Forward P/E ratio of 29.64. This denotes a premium relative to the industry's average Forward P/E of 20.37.
We can additionally observe that GRMN currently boasts a PEG ratio of 3.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Miscellaneous Products industry was having an average PEG ratio of 2.83.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.