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Garmin (GRMN) Gains But Lags Market: What You Should Know
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The latest trading session saw Garmin (GRMN - Free Report) ending at $170.03, denoting a +0.53% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.9%. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%.
Shares of the maker of personal navigation devices witnessed a loss of 6.44% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.76% and the S&P 500's gain of 3.15%.
Investors will be eagerly watching for the performance of Garmin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2024. In that report, analysts expect Garmin to post earnings of $1.45 per share. This would mark year-over-year growth of 2.84%. Our most recent consensus estimate is calling for quarterly revenue of $1.43 billion, up 12.14% from the year-ago period.
GRMN's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $5.97 billion. These results would represent year-over-year changes of +8.23% and +14.11%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Garmin. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 remained steady. Garmin is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Garmin has a Forward P/E ratio of 27.95 right now. This signifies a premium in comparison to the average Forward P/E of 17.8 for its industry.
Meanwhile, GRMN's PEG ratio is currently 2.93. 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. The Electronics - Miscellaneous Products was holding an average PEG ratio of 2.25 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 163, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GRMN in the coming trading sessions, be sure to utilize Zacks.com.
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Garmin (GRMN) Gains But Lags Market: What You Should Know
The latest trading session saw Garmin (GRMN - Free Report) ending at $170.03, denoting a +0.53% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.9%. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%.
Shares of the maker of personal navigation devices witnessed a loss of 6.44% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.76% and the S&P 500's gain of 3.15%.
Investors will be eagerly watching for the performance of Garmin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2024. In that report, analysts expect Garmin to post earnings of $1.45 per share. This would mark year-over-year growth of 2.84%. Our most recent consensus estimate is calling for quarterly revenue of $1.43 billion, up 12.14% from the year-ago period.
GRMN's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $5.97 billion. These results would represent year-over-year changes of +8.23% and +14.11%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Garmin. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 remained steady. Garmin is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Garmin has a Forward P/E ratio of 27.95 right now. This signifies a premium in comparison to the average Forward P/E of 17.8 for its industry.
Meanwhile, GRMN's PEG ratio is currently 2.93. 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. The Electronics - Miscellaneous Products was holding an average PEG ratio of 2.25 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 163, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GRMN in the coming trading sessions, be sure to utilize Zacks.com.