Site icon News Bit

Garmin (GRMN) Outpaces Stock Market Gains: What You Should Know

This story originally appeared on Zacks

Garmin (GRMN) closed the most recent trading day at $132.38, moving +0.17% from the previous trading session. This change outpaced the S&P 500’s 0.08% gain on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.42%.

– Zacks

Heading into today, shares of the maker of personal navigation devices had lost 1.59% over the past month, outpacing the Computer and Technology sector’s loss of 5.11% and lagging the S&P 500’s gain of 0.22% in that time.

Investors will be hoping for strength from Garmin as it approaches its next earnings release. The company is expected to report EPS of $1.41, down 18.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.37 billion, up 1.01% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Garmin. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.93% higher within the past month. Garmin is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Garmin is currently trading at a Forward P/E ratio of 21.08. Its industry sports an average Forward P/E of 21.08, so we one might conclude that Garmin is trading at a no noticeable deviation comparatively.

We can also see that GRMN currently has a PEG ratio of 3.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Electronics – Miscellaneous Products stocks are, on average, holding a PEG ratio of 1.87 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 165, which puts it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

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.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – abuse@newsbit.us. The content will be deleted within 24 hours.
Exit mobile version