Garmin (GRMN) closed the most recent trading day at $205.48, moving +0.26% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.83%.

Shares of the maker of personal navigation devices have appreciated by 8.87% over the course of the past month, outperforming the Computer and Technology sector's gain of 8.67% and the S&P 500's gain of 5.17%.

Analysts and investors alike will be keeping a close eye on the performance of Garmin in its upcoming earnings disclosure. On that day, Garmin is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 23.42%. Alongside, our most recent consensus estimate is anticipating revenue of $1.73 billion, indicating a 15.01% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $7.94 per share and a revenue of $6.83 billion, demonstrating changes of +7.44% and +8.48%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Garmin. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.9% higher within the past month. Garmin is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Garmin is holding a Forward P/E ratio of 25.83. This expresses a premium compared to the average Forward P/E of 18.72 of its industry.

We can additionally observe that GRMN currently boasts a PEG ratio of 2.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Electronics - Miscellaneous Products industry was having an average PEG ratio of 1.65.

The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 139, placing it within the bottom 44% of over 250 industries.