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

In the latest market close, Garmin (GRMN) reached $211.39, with a +1.36% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.06%.The maker of personal navigation devices's shares have seen a decrease of 4.25% over the last month, not keeping up with the Computer and Technology sector's loss of 0.39% and the S&P 500's loss of 2.7%.The investment community will be closely monitoring the performance of Garmin in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.89, marking a 9.88% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.67 billion, showing a 12.74% escalation compared to the year-ago quarter.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Garmin. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Garmin is carrying a Zacks Rank of #1 (Strong Buy).With respect to valuation, Garmin is currently being traded at a Forward P/E ratio of 27.6. For comparison, its industry has an average Forward P/E of 19.2, which means Garmin is trading at a premium to the group.It is also worth noting that GRMN currently has a PEG ratio of 1.28. 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. The Electronics - Miscellaneous Products industry currently had an average PEG ratio of 1.58 as of yesterday's close.The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks