Garmin (GRMN) closed the most recent trading day at $87.46, moving -0.03% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.39%. At the same time, the Dow lost 0.95%, and the tech-heavy Nasdaq lost 0.83%.
Prior to today's trading, shares of the maker of personal navigation devices had gained 2.34% over the past month. This has outpaced the Computer and Technology sector's gain of 0.35% and the S&P 500's loss of 0.1% in that time.
Wall Street will be looking for positivity from GRMN as it approaches its next earnings report date. This is expected to be October 30, 2019. In that report, analysts expect GRMN to post earnings of $0.94 per share. This would mark a year-over-year decline of 6%. Meanwhile, our latest consensus estimate is calling for revenue of $863.92 million, up 6.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.90 per share and revenue of $3.60 billion. These totals would mark changes of +5.69% and +7.58%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for GRMN. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GRMN currently has a Zacks Rank of #3 (Hold).
Digging into valuation, GRMN currently has a Forward P/E ratio of 22.46. Its industry sports an average Forward P/E of 20.81, so we one might conclude that GRMN is trading at a premium comparatively.
Meanwhile, GRMN's PEG ratio is currently 3.06. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 1.47 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 102, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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 Report
To read this article on Zacks.com click here.
Zacks Investment Research