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Garmin (GRMN) Gains But Lags Market: What You Should Know
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Garmin (GRMN - Free Report) closed at $110.72 in the latest trading session, marking a +0.67% move from the prior day. This move lagged the S&P 500's daily gain of 2.57%. Meanwhile, the Dow gained 2%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the maker of personal navigation devices had lost 12.96% over the past month, lagging the Computer and Technology sector's loss of 11.08% and the S&P 500's loss of 7.68% in that time.
Investors will be hoping for strength from Garmin as it approaches its next earnings release. On that day, Garmin is projected to report earnings of $1.05 per share, which would represent 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. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Garmin currently has a Forward P/E ratio of 18.18. This valuation marks a premium compared to its industry's average Forward P/E of 15.68.
It is also worth noting that GRMN currently has a PEG ratio of 2.67. 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 1.77 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 213, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Garmin (GRMN) Gains But Lags Market: What You Should Know
Garmin (GRMN - Free Report) closed at $110.72 in the latest trading session, marking a +0.67% move from the prior day. This move lagged the S&P 500's daily gain of 2.57%. Meanwhile, the Dow gained 2%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the maker of personal navigation devices had lost 12.96% over the past month, lagging the Computer and Technology sector's loss of 11.08% and the S&P 500's loss of 7.68% in that time.
Investors will be hoping for strength from Garmin as it approaches its next earnings release. On that day, Garmin is projected to report earnings of $1.05 per share, which would represent 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. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Garmin currently has a Forward P/E ratio of 18.18. This valuation marks a premium compared to its industry's average Forward P/E of 15.68.
It is also worth noting that GRMN currently has a PEG ratio of 2.67. 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 1.77 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 213, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.