Garmin (GRMN) Outperforms Broader Market: What You Need to Know

Garmin (GRMN) closed at $208.36 in the latest trading session, marking a +1.56% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 0.52%. Shares of the maker of personal navigation devices witnessed a gain of 1.14% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 9.55%, and the S&P 500's gain of 5.95%.Analysts and investors alike will be keeping a close eye on the performance of Garmin in its upcoming earnings disclosure. On that day, Garmin is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 23.42%. Simultaneously, our latest consensus estimate expects the revenue to be $1.73 billion, showing a 15.01% escalation compared to the year-ago quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.99 per share and revenue of $6.83 billion, indicating changes of +8.12% and +8.48%, respectively, compared to the previous year. Investors should also take note of any recent adjustments to analyst estimates for Garmin. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.16% higher. As of now, Garmin holds a Zacks Rank of #3 (Hold). Investors should also note Garmin's current valuation metrics, including its Forward P/E ratio of 25.67. This expresses a premium compared to the average Forward P/E of 19.04 of its industry. It is also worth noting that GRMN currently has a PEG ratio of 2.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Electronics - Miscellaneous Products industry held an average PEG ratio of 1.74. The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 149, finds itself in the bottom 40% echelons of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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. Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Garmin Ltd. (GRMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks