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Garmin (GRMN) Stock Moves -0.62%: What You Should Know

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Garmin (GRMN - Free Report) closed the most recent trading day at $209.36, moving -0.62% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 1.49%.

Shares of the maker of personal navigation devices witnessed a loss of 0.67% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.27% and the S&P 500's gain of 0.4%.

Investors will be eagerly watching for the performance of Garmin in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.89, indicating a 9.88% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.67 billion, up 12.74% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.01 per share and a revenue of $6.15 billion, representing changes of +25.4% and +17.55%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Garmin. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Garmin boasts a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Garmin is holding a Forward P/E ratio of 30.05. This denotes a premium relative to the industry's average Forward P/E of 20.18.

Meanwhile, GRMN's PEG ratio is currently 1.39. 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. By the end of yesterday's trading, the Electronics - Miscellaneous Products industry had an average PEG ratio of 2.01.

The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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