Garmin Ltd. (GRMN): Earnings Whisper

Garmin Ltd. (GRMN) is set to report its 2Q15 results today before the markets open. The manufacturer of GPS enabled products is expected to report revenue of $768.91 million. Similarly, the EPS is projected at $0.71. A year ago, Garmin earned $1.02 a share. The Street’s estimates for the quarter reflect a year-over-year EPS and revenue decline of 30.39% and 1.17%, respectively. Meanwhile, EarningsWhisper.com reports a whisper number of $0.72 per share.

As a quick reminder, GRMN reported 1Q/15 EPS of $0.55, $0.03 worse than the Street’s consensus estimate. Revs rose marginally year-over-year to $585 million from $583 million vs. the $606.63 million consensus.

On valuation measures, Garmin Ltd. shares are currently priced at 26.43x this year’s forecasted earnings compared to the industry’s 13.26x earnings multiple. Ticker has a PEG and forward P/E ratio of 2.34 and 14.51, respectively. Price/Sales for the same period is 2.81 while EPS is $1.62. Currently there are 4 analysts that rate GRMN a ‘Buy’, 14 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’. GRMN has a median Wall Street price target of $45.00 with a high target of $61.00.

Over the past year, shares of Schaffhausen, Switzerland-based company have traded between a low of $41.20 and a high of $61.75 and are now at $42.79. Shares are down 23.43% year-over-year and 18.10% year-to-date.

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