For its first fiscal quarter (ending March 31), Garmin Ltd (NYSE: GRMN) has reported a 36% increase in E.P.S. from $1.06 a year ago to $1.44 in the current quarter. This result exceeded the consensus estimate of $1.15 by $0.29. For the latest four quarters through March 31, E.P.S. were $7.12 versus $5.02 for the same period a year ago — an increase of 42%.
Recent Price Action
Garmin Ltd (NYSE: GRMN) stock enjoyed a major increase of 13.1% on 5/1/24. The shares closed at $163.42. Moreover, this advance was accompanied by exceptionally high trading volume at 260% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 14.7% during the last week.
Current PriceTarget Research Rating
GRMN’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
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 23 but a very high Power Rating of 87, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and very positive price change we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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