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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 $112.05, marking a -1.63% move from the previous day. This change lagged the S&P 500's 0.53% loss on the day. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the maker of personal navigation devices had lost 10.47% in the past month. In that same time, the Computer and Technology sector lost 6.75%, while the S&P 500 lost 4.24%.
Wall Street will be looking for positivity from Garmin as it approaches its next earnings report date. In that report, analysts expect Garmin to post earnings of $1.05 per share. This would mark a year-over-year decline of 11.02%. Our most recent consensus estimate is calling for quarterly revenue of $1.14 billion, up 5.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.05 per share and revenue of $5.48 billion. These totals would mark changes of +3.95% and +10.04%, respectively, from last year.
Investors might also notice 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.7% lower within the past month. Garmin is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Garmin is holding a Forward P/E ratio of 18.83. Its industry sports an average Forward P/E of 16.86, so we one might conclude that Garmin is trading at a premium comparatively.
Investors should also note that GRMN has a PEG ratio of 2.77 right now. 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. The Electronics - Miscellaneous Products was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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 $112.05, marking a -1.63% move from the previous day. This change lagged the S&P 500's 0.53% loss on the day. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the maker of personal navigation devices had lost 10.47% in the past month. In that same time, the Computer and Technology sector lost 6.75%, while the S&P 500 lost 4.24%.
Wall Street will be looking for positivity from Garmin as it approaches its next earnings report date. In that report, analysts expect Garmin to post earnings of $1.05 per share. This would mark a year-over-year decline of 11.02%. Our most recent consensus estimate is calling for quarterly revenue of $1.14 billion, up 5.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.05 per share and revenue of $5.48 billion. These totals would mark changes of +3.95% and +10.04%, respectively, from last year.
Investors might also notice 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.7% lower within the past month. Garmin is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Garmin is holding a Forward P/E ratio of 18.83. Its industry sports an average Forward P/E of 16.86, so we one might conclude that Garmin is trading at a premium comparatively.
Investors should also note that GRMN has a PEG ratio of 2.77 right now. 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. The Electronics - Miscellaneous Products was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.