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Garmin (GRMN) Falls More Steeply Than Broader Market: What Investors Need to Know
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Garmin (GRMN - Free Report) closed at $234.18 in the latest trading session, marking a -1.05% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today's trading, shares of the maker of personal navigation devices had gained 1.38% lagged the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 2.57%.
Investors will be eagerly watching for the performance of Garmin in its upcoming earnings disclosure. The company is expected to report EPS of $1.98, down 0.5% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.78 billion, showing a 12.35% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.07 per share and a revenue of $7.05 billion, indicating changes of +9.2% and +11.9%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Garmin. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.43% higher. Garmin currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Garmin is currently exchanging hands at a Forward P/E ratio of 29.34. For comparison, its industry has an average Forward P/E of 20.93, which means Garmin is trading at a premium to the group.
We can additionally observe that GRMN currently boasts a PEG ratio of 2.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Electronics - Miscellaneous Products industry stood at 1.88 at the close of the market yesterday.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Falls More Steeply Than Broader Market: What Investors Need to Know
Garmin (GRMN - Free Report) closed at $234.18 in the latest trading session, marking a -1.05% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today's trading, shares of the maker of personal navigation devices had gained 1.38% lagged the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 2.57%.
Investors will be eagerly watching for the performance of Garmin in its upcoming earnings disclosure. The company is expected to report EPS of $1.98, down 0.5% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.78 billion, showing a 12.35% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.07 per share and a revenue of $7.05 billion, indicating changes of +9.2% and +11.9%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Garmin. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.43% higher. Garmin currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Garmin is currently exchanging hands at a Forward P/E ratio of 29.34. For comparison, its industry has an average Forward P/E of 20.93, which means Garmin is trading at a premium to the group.
We can additionally observe that GRMN currently boasts a PEG ratio of 2.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Electronics - Miscellaneous Products industry stood at 1.88 at the close of the market yesterday.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.