Garmin Slides 1.3% Ahead of October Earnings Report
The navigation-device maker fell alongside a weaker market, with its next earnings report due October 28 and estimates pointing to growth.
Garmin shares fell 1.3% to $290.23 in the latest session. The S&P 500 lost 0.17%, the Dow fell 0.26% and the Nasdaq declined 0.09%.
Over the past month, Garmin gained 3.5%, just below the Computer and Technology sector’s 3.58% rise. The S&P 500 lost 0.24% over the same period.
The company is scheduled to report earnings on October 28. Zacks’ consensus estimate calls for quarterly earnings of $2.38 per share and revenue of $1.99 billion, up 19.6% and 12.32%, respectively, from a year earlier.
For the full fiscal year, Zacks estimates earnings of $10.08 per share and revenue of $8.09 billion. Those figures would represent gains of 17.76% and 11.7% from the prior year. The consensus earnings estimate has not changed over the past month.
Garmin’s forward price-to-earnings ratio was 29.19, compared with an industry average of 20.44. Its PEG ratio, which factors in expected earnings growth, was 3.29, against an industry average of 1.38.
This article was produced with the help of AI technology.
Source: Yahoo Finance
