The navigation device maker easily beats quarterly earnings and revenue estimates.
Garmin raised its full-year profit and revenue forecasts on Wednesday, expecting a slew of launches of wearable products ahead of the holiday season to drive demand further, sending the company's shares up 9.5% in premarket trading.
Evaluate the expected performance of Garmin (GRMN) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
In the most recent trading session, Garmin (GRMN) closed at $162.30, indicating a +0.23% shift from the previous trading day.
Garmin (GRMN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The latest trading day saw Garmin (GRMN) settling at $167.58, representing a +0.64% change from its previous close.
GRMN's growth prospects, supported by a strong and innovative product portfolio, make the stock attractive for investors.
Electronics stocks like Carrier Global (CARR), Garmin (GRMN) and Trimble (TRMB) are expected to benefit from investments in infrastructure and expanded capacity despite macroeconomic headwinds.
Garmin (GRMN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
In the most recent trading session, Garmin (GRMN) closed at $165.89, indicating a +0.11% shift from the previous trading day.
Garmin (GRMN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
GRMN's expanding portfolio makes the stock worth investing. However, stretched valuation keeps investors on the sidelines.