$81.97 Million in Sales Expected for Johnson Outdoors Inc. (JOUT) This Quarter
Wall Street brokerages forecast that Johnson Outdoors Inc. (NASDAQ:JOUT) will post $81.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Johnson Outdoors’ earnings, with estimates ranging from $77.90 million to $86.05 million. Johnson Outdoors posted sales of $74.94 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The company is scheduled to report its next earnings results on Monday, December 11th.
According to Zacks, analysts expect that Johnson Outdoors will report full year sales of $81.97 million for the current year, with estimates ranging from $476.70 million to $484.86 million. For the next year, analysts expect that the firm will report sales of $501.12 million per share, with estimates ranging from $500.75 million to $501.50 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Johnson Outdoors.
Johnson Outdoors (NASDAQ:JOUT) last posted its earnings results on Friday, August 4th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.63. The firm had revenue of $155.27 million during the quarter, compared to analysts’ expectations of $149.29 million. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%.
JOUT has been the subject of a number of recent research reports. Forward View restated a “buy” rating and issued a $72.00 target price on shares of Johnson Outdoors in a research report on Sunday, September 3rd. Zacks Investment Research downgraded Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub downgraded Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine upgraded Johnson Outdoors from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Imperial Capital boosted their target price on Johnson Outdoors from $49.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Johnson Outdoors has an average rating of “Buy” and an average target price of $67.00.
In related news, CFO David W. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $67.02, for a total value of $67,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Pyle, Jr. sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $64.23, for a total value of $125,248.50. The disclosure for this sale can be found here. Insiders sold a total of 5,077 shares of company stock valued at $322,834 in the last 90 days. 28.03% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. TIAA CREF Investment Management LLC lifted its position in Johnson Outdoors by 1.5% in the second quarter. TIAA CREF Investment Management LLC now owns 13,269 shares of the company’s stock valued at $640,000 after purchasing an additional 195 shares during the last quarter. American International Group Inc. lifted its position in Johnson Outdoors by 7.2% in the first quarter. American International Group Inc. now owns 3,020 shares of the company’s stock valued at $110,000 after purchasing an additional 202 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Johnson Outdoors by 2.9% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,593 shares of the company’s stock valued at $460,000 after purchasing an additional 360 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Johnson Outdoors by 11.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,775 shares of the company’s stock valued at $231,000 after purchasing an additional 488 shares during the last quarter. Finally, Credit Suisse AG lifted its position in Johnson Outdoors by 9.6% in the first quarter. Credit Suisse AG now owns 6,711 shares of the company’s stock valued at $245,000 after purchasing an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.
Johnson Outdoors (NASDAQ:JOUT) traded up 0.25% on Tuesday, hitting $72.14. 59,529 shares of the stock were exchanged. The firm has a market cap of $709.28 million, a PE ratio of 22.28 and a beta of 0.76. Johnson Outdoors has a 52-week low of $31.25 and a 52-week high of $76.18. The company has a 50-day moving average price of $67.64 and a 200-day moving average price of $51.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.10 dividend. This is an increase from Johnson Outdoors’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, October 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. Johnson Outdoors’s payout ratio is presently 11.15%.
About Johnson Outdoors
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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