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Garmin (GRMN) Outpaces Stock Market Gains: What You Should Know
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Garmin (GRMN - Free Report) closed at $125.36 in the latest trading session, marking a +0.76% move from the prior day. This move outpaced the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Heading into today, shares of the maker of personal navigation devices had lost 6.84% over the past month, outpacing the Computer and Technology sector's loss of 8.19% and lagging the S&P 500's loss of 5.29% in that time.
Investors will be hoping for strength from Garmin as it approaches its next earnings release, which is expected to be February 16, 2022. 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%. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 1.01% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Garmin. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.93% higher. Garmin currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Garmin is currently trading at a Forward P/E ratio of 19.84. Its industry sports an average Forward P/E of 20.28, so we one might conclude that Garmin is trading at a discount comparatively.
Also, we should mention that GRMN has a PEG ratio of 2.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 1.74 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 18% 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.
To follow GRMN in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Garmin (GRMN) Outpaces Stock Market Gains: What You Should Know
Garmin (GRMN - Free Report) closed at $125.36 in the latest trading session, marking a +0.76% move from the prior day. This move outpaced the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Heading into today, shares of the maker of personal navigation devices had lost 6.84% over the past month, outpacing the Computer and Technology sector's loss of 8.19% and lagging the S&P 500's loss of 5.29% in that time.
Investors will be hoping for strength from Garmin as it approaches its next earnings release, which is expected to be February 16, 2022. 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%. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 1.01% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Garmin. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.93% higher. Garmin currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Garmin is currently trading at a Forward P/E ratio of 19.84. Its industry sports an average Forward P/E of 20.28, so we one might conclude that Garmin is trading at a discount comparatively.
Also, we should mention that GRMN has a PEG ratio of 2.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 1.74 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 18% 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.
To follow GRMN in the coming trading sessions, be sure to utilize Zacks.com.