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Garmin (GRMN) Gains But Lags Market: What You Should Know
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Garmin (GRMN - Free Report) closed the most recent trading day at $134.48, moving +0.28% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the maker of personal navigation devices had lost 6.03% over the past month. This has lagged the Computer and Technology sector's gain of 0.29% and the S&P 500's gain of 0.87% in that time.
Investors will be hoping for strength from Garmin as it approaches its next earnings release. In that report, analysts expect Garmin to post earnings of $1.41 per share. This would mark a year-over-year decline of 18.5%. Meanwhile, our latest consensus estimate is calling for revenue of $1.37 billion, up 1.01% from the prior-year quarter.
GRMN's full-year Zacks Consensus Estimates are calling for earnings of $5.68 per share and revenue of $4.96 billion. These results would represent year-over-year changes of +10.51% and +18.44%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.26% lower within the past month. Garmin is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Garmin is holding a Forward P/E ratio of 23.68. This represents a premium compared to its industry's average Forward P/E of 22.14.
It is also worth noting that GRMN currently has a PEG ratio of 3.48. 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 2.02 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 91, which puts it in the top 36% 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) Gains But Lags Market: What You Should Know
Garmin (GRMN - Free Report) closed the most recent trading day at $134.48, moving +0.28% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the maker of personal navigation devices had lost 6.03% over the past month. This has lagged the Computer and Technology sector's gain of 0.29% and the S&P 500's gain of 0.87% in that time.
Investors will be hoping for strength from Garmin as it approaches its next earnings release. In that report, analysts expect Garmin to post earnings of $1.41 per share. This would mark a year-over-year decline of 18.5%. Meanwhile, our latest consensus estimate is calling for revenue of $1.37 billion, up 1.01% from the prior-year quarter.
GRMN's full-year Zacks Consensus Estimates are calling for earnings of $5.68 per share and revenue of $4.96 billion. These results would represent year-over-year changes of +10.51% and +18.44%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.26% lower within the past month. Garmin is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Garmin is holding a Forward P/E ratio of 23.68. This represents a premium compared to its industry's average Forward P/E of 22.14.
It is also worth noting that GRMN currently has a PEG ratio of 3.48. 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 2.02 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 91, which puts it in the top 36% 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.