GRMN stock is near overbought RSI levels (70) at 65 right now and it could face selling pressure along with the rest of the market if Wall Street uses earnings season as a chance to take more profits. Treasury and the S&P 500’s average, a fact made more impressive given its performance. And its 1.76% dividend yield easily tops the 10-year U.S. The stock also trades right below the tech sector at 26.7X forward 12-month earnings. Garmin closed regular hours Thursday just below its recent records at $151 a share. This run includes an industry and sector-topping 50% jump in the past 12 months. GRMN shares have soared 230% in the past five years to easily outclimb the Zacks Tech Sector’s 175%.
This EPS positivity helps GRMN land a Zacks Rank #2 (Buy).
Garmin’s earnings estimates have climbed since its last report and its seen some higher revisions leading up to its upcoming release. The stock has also crushed our bottom-line estimates by an average of 64% in the trailing four periods. Meanwhile, its adjusted EPS figures are expected to climb by 4% and 12%, respectively over this stretch. Zacks estimates call for GRMN’s fiscal 2021 sales to climb 12% to $4.68 billion, with FY22 set to pop another 8% higher. “Interest in fitness, health, and active lifestyle products has never been higher, and we believe that we are well positioned to capitalize on the opportunities ahead,” CEO Cliff Pemble said in prepared remarks. The growth was driven by double-digit expansion in fitness, outdoor, marine, and auto. The firm topped our Q1 estimates, with sales up 25% to $1.07 billion and adjusted earnings 30% higher. This came on top of FY19’s 12.3% sales growth and 2018’s 7%. For instance, GRMN in February landed an agreement with Joby Aviation for tech to help create “scalable air taxi services.” Garmin’s 2020 revenue climbed over 11% to reach $4.19 billion. Institutional Distribution IntelligenceĪlong with of more consumer electronics, the Switzerland-headquartered sells high-end fish finders, advanced radars and systems for boats and airplanes, and much more.Non-Traditional Exchanges & New Markets.Directors’ and Officers’ Questionnaires.
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