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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 $109.69, moving +0.3% from the previous trading session. This change lagged the S&P 500's 2.14% gain on the day. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the maker of personal navigation devices had lost 9.44% in the past month. In that same time, the Computer and Technology sector lost 10.13%, while the S&P 500 lost 5.01%.
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 $1.05 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.05 per share and revenue of $5.48 billion, which would represent changes of +3.95% and +10.04%, respectively, from the prior year.
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.
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 holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Garmin currently has a Forward P/E ratio of 18.08. For comparison, its industry has an average Forward P/E of 16.75, which means Garmin is trading at a premium to the group.
Meanwhile, GRMN's PEG ratio is currently 2.66. 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. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 1.6 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 189, which puts it in the bottom 26% 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.
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
Garmin (GRMN - Free Report) closed the most recent trading day at $109.69, moving +0.3% from the previous trading session. This change lagged the S&P 500's 2.14% gain on the day. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the maker of personal navigation devices had lost 9.44% in the past month. In that same time, the Computer and Technology sector lost 10.13%, while the S&P 500 lost 5.01%.
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 $1.05 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.05 per share and revenue of $5.48 billion, which would represent changes of +3.95% and +10.04%, respectively, from the prior year.
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.
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 holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Garmin currently has a Forward P/E ratio of 18.08. For comparison, its industry has an average Forward P/E of 16.75, which means Garmin is trading at a premium to the group.
Meanwhile, GRMN's PEG ratio is currently 2.66. 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. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 1.6 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 189, which puts it in the bottom 26% 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.
To follow GRMN in the coming trading sessions, be sure to utilize Zacks.com.