Garmin's stock rises higher than the market, with positive outlook from analysts.

From Nasdaq.: 2024-07-12 18:15:20

In the latest trading session, Garmin (GRMN) closed at $168.80, up 1.22% from the previous day, outpacing the S&P 500’s gain of 0.55%. The company is set to release its earnings on July 31, 2024, with an anticipated EPS of $1.45 and revenue of $1.48 billion. Analysts note positive revisions in estimates, signaling a positive outlook for Garmin’s stock performance. The Zacks Rank system rates GRMN as a #2 (Buy).

For the full year, Garmin is projected to earn $5.77 per share and generate revenues of $5.9 billion, showing increases of +3.22% and +12.94%, respectively. The company is currently trading at a Forward P/E ratio of 28.89, higher than the industry average of 20.77. Additionally, GRMN has a PEG ratio of 3.59, reflecting future earnings growth potential. The Electronics – Miscellaneous Products industry, which Garmin belongs to, has a Zacks Industry Rank of 202, indicating a lower position in the industry hierarchy.

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Read more at Nasdaq.: Garmin (GRMN) Rises Higher Than Market: Key Facts