In the latest trading session, Garmin (GRMN) closed at $165.89, marking a +0.11% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 0.33%.

Coming into today, shares of the maker of personal navigation devices had lost 9.33% in the past month. In that same time, the Computer and Technology sector gained 8.6%, while the S&P 500 gained 5.36%.

The upcoming earnings release of Garmin will be of great interest to investors. The company's earnings report is expected on October 30, 2024. In that report, analysts expect Garmin to post earnings of $1.46 per share. This would mark year-over-year growth of 3.55%. In the meantime, our current consensus estimate forecasts the revenue to be $1.44 billion, indicating a 12.99% growth compared to the corresponding quarter of the prior year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.08 per share and a revenue of $5.99 billion, signifying shifts of +8.77% and +14.6%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Garmin. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.45% higher. Currently, Garmin is carrying a Zacks Rank of #3 (Hold).

Investors should also note Garmin's current valuation metrics, including its Forward P/E ratio of 27.26. This signifies a premium in comparison to the average Forward P/E of 17.89 for its industry.

It's also important to note that GRMN currently trades at a PEG ratio of 2.85. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2.15 based on yesterday's closing prices.