Garmin Ltd (NYSE:GRMN) shares, rose in value on Friday, November 22, with the stock price up by 0.58% to the previous day’s close as strong demand from buyers drove the stock to $210.33.
Actively observing the price movement in the last trading, the stock closed the session at $209.11, falling within a range of $209.28 and $211.27. The value of beta (5-year monthly) was 0.983 whereas the PE ratio was 26.72 over 12-month period. Referring to stock’s 52-week performance, its high was $215.55, and the low was $119.15. On the whole, GRMN has fluctuated by 29.89% over the past month.
With the market capitalization of Garmin Ltd currently standing at about $40.39 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 2.96, with its dividend yield at 1.41%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 6.16B, with a low estimate of 1.64B and a high estimate of 1.82B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.68B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that GRMN’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.73, with the price of GRMN currently trading nearly 3.31% and 15.08% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 68.38, while the 7-day volatility ratio is showing 1.31% which for the 30-day chart, stands at 2.19%. Furthermore, Garmin Ltd (GRMN)’s beta value is 0.98, and its average true range (ATR) is 4.10.
A comparison of Garmin Ltd (GRMN) with its peers suggests the former has fared considerably weaker in the market. GRMN showed an intraday change of 0.58% in last session, and over the past year, it grew by 74.74%%.
Data on historical trading for Garmin Ltd (NYSE:GRMN) indicates that the trading volumes over the past 10 days have averaged 0.87 and over the past 3 months, they’ve averaged 881.99K. According to company’s latest data on outstanding shares, there are 191.78 million shares outstanding.
Nearly 19.42% of Garmin Ltd’s shares belong to company insiders and institutional investors own 57.19% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.97 million shares as on 2024-10-31, resulting in a short ratio of 4.32. According to the data, the short interest in Garmin Ltd (GRMN) stood at 257.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 4.38 million. The stock has risen by 63.63% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GRMN stock heading into the next quarter.
