Garmin Ltd (NYSE: GRMN) has reported earnings for its second fiscal quarter (ending June 30) of $1.57 versus $1.51 for the same period a year ago. For the latest four quarters through June 30, E.P.S. were $7.17 compared to $5.18 a year ago.
Recent Price Action
Garmin Ltd (NYSE: GRMN) stock closed at $171.25 on 7/31/24 after a decline of -4.5%. Moreover, exceptionally high trading volume at 269% of normal accompanied the decline. The stock is unchanged during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
GRMN is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Garmin has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Garmin has a poor Appreciation Score of 21 but a very high Power Rating of 89, producing the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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