Bull of the Day: Garmin (GRMN)

Garmin GRMN, a current Zacks Rank #1 (Strong Buy), is an original equipment manufacturer of navigation and communication equipment that incorporate the global positioning system (GPS)-based technology.Analysts have raised their EPS expectations across the board over recent months, a clear bullish sign.Image Source: Zacks Investment ResearchLet’s take a closer look at what’s been driving the positive sentiment.Garmin Posts Strong ResultsGarmin’s latest set of quarterly results came in nicely above expectations, exceeding the Zacks Consensus EPS estimate by nearly 25% alongside an 8.4% sales surprise. The results perked shares up nicely, with upgraded guidance leading to the positive EPS picture.The stock has been quietly strong over the past year, up nearly 50% and outperforming big relative to the S&P 500.Image Source: Zacks Investment ResearchGRMN’s sales shot 23% higher year-over-year throughout the above-mentioned period, with its gross margin also expanding nicely to 59.3% from 58.3% in the year-ago period. Several new products were also launched, continuing its nature of creating innovative products within the markets it serves.Below is a chart illustrating the company’s sales on a quarterly basis.Image Source: Zacks Investment ResearchShares also reflect a nice play for income-focused investors, with the current 1.4% annual dividend yield edging out the S&P 500’s 1.3%. The company has also shown a commitment to increasingly rewarding shareholders, boasting a 5.6% five-year annualized dividend growth rate.Below is a chart illustrating Garmin’s dividends per share on a quarterly basis.Image Source: Zacks Investment ResearchBottom LineInvestors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge.The top 5% of all stocks receive the highly coveted Zacks Rank #1 (Strong Buy). These stocks should outperform the market more than any other rank.Garmin GRMN would be an excellent stock for investors to consider, as displayed by its Zack Rank #1 (Strong Buy).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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