In its upcoming report, Garmin (GRMN) is predicted by Wall Street analysts to post quarterly earnings of $1.65 per share, reflecting an increase of 16.2% compared to the same period last year. Revenues are forecasted to be $1.57 billion, representing a year-over-year increase of 13.4%.
The consensus EPS estimate for the quarter has been revised 6.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Garmin metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Net Sales- Marine' will reach $337.51 million. The estimate indicates a change of +3.3% from the prior-year quarter.
Analysts predict that the 'Net Sales- Aviation' will reach $227.61 million. The estimate points to a change of +5% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net Sales- Fitness' of $404.99 million. The estimate indicates a year-over-year change of +18.1%.
The consensus among analysts is that 'Net Sales- Outdoor' will reach $442.87 million. The estimate indicates a year-over-year change of +20.9%.
The consensus estimate for 'Net Sales- Auto OEM' stands at $153.36 million. The estimate indicates a change of +18.9% from the prior-year quarter.
According to the collective judgment of analysts, 'Operating income (loss)- Outdoor' should come in at $155.68 million. The estimate compares to the year-ago value of $106.95 million.
The average prediction of analysts places 'Operating income (loss)- Fitness' at $100.47 million. Compared to the current estimate, the company reported $68.13 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Operating income (loss)- Marine' should arrive at $64.67 million. Compared to the current estimate, the company reported $87.69 million in the same quarter of the previous year.
Analysts' assessment points toward 'Gross profit- Fitness' reaching $237.45 million. Compared to the current estimate, the company reported $194.80 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Gross profit- Marine' will likely reach $188.62 million. Compared to the present estimate, the company reported $179.25 million in the same quarter last year.
Analysts forecast 'Gross profit- Aviation' to reach $168.52 million. Compared to the present estimate, the company reported $162.63 million in the same quarter last year.
Analysts expect 'Gross profit- Outdoor' to come in at $291.48 million. Compared to the current estimate, the company reported $242.74 million in the same quarter of the previous year.
View all Key Company Metrics for Garmin here>>>
Shares of Garmin have demonstrated returns of -6.9% over the past month compared to the Zacks S&P 500 composite's -4.3% change. With a Zacks Rank #3 (Hold), GRMN is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Garmin Ltd. (GRMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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