Wall Street analysts forecast that Garmin (GRMN) will report quarterly earnings of $1.84 per share in its upcoming release, pointing to a year-over-year increase of 14.3%. It is anticipated that revenues will amount to $1.72 billion, exhibiting an increase of 12.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 0.3% higher 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Garmin metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Net Sales- Marine' will reach $363.54 million. The estimate points to a change of +13.8% from the year-ago quarter.
The consensus estimate for 'Net Sales- Aviation' stands at $251.11 million. The estimate suggests a change of +12.6% year over year.
Analysts' assessment points toward 'Net Sales- Fitness' reaching $477.10 million. The estimate points to a change of +24% from the year-ago quarter.
The consensus among analysts is that 'Net Sales- Outdoor' will reach $456.64 million. The estimate points to a change of +4.1% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net Sales- Auto OEM' of $173.42 million. The estimate suggests a change of +2.4% year over year.
Analysts forecast 'Operating income (loss)- Outdoor' to reach $142.92 million. Compared to the present estimate, the company reported $128.79 million in the same quarter last year.
Based on the collective assessment of analysts, 'Operating income (loss)- Fitness' should arrive at $138.38 million. The estimate is in contrast to the year-ago figure of $77.71 million.
It is projected by analysts that the 'Operating income (loss)- Marine' will reach $72.11 million. Compared to the present estimate, the company reported $86.87 million in the same quarter last year.
Analysts expect 'Gross profit- Fitness' to come in at $280.94 million. Compared to the current estimate, the company reported $220.14 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Gross profit- Marine' will likely reach $200.00 million. Compared to the present estimate, the company reported $183.93 million in the same quarter last year.
The average prediction of analysts places 'Gross profit- Aviation' at $189.51 million. The estimate compares to the year-ago value of $167.90 million.
According to the collective judgment of analysts, 'Gross profit- Outdoor' should come in at $293.68 million. Compared to the present estimate, the company reported $282.54 million in the same quarter last year.
View all Key Company Metrics for Garmin here>>>Shares of Garmin have experienced a change of +13.9% in the past month compared to the +12.8% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), GRMN is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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