Johnson Outdoors (NASDAQ:JOUT) Announces Earnings Results, Beats Expectations By $0.51 EPS

Key Points

• Johnson Outdoors reported quarterly earnings of $0.75 per share, exceeding estimates by $0.51, with revenue reaching $180.66 million compared to expectations of $172.98 million.
• The company's stock rose 8.1% following the earnings announcement, and currently has a market cap of $370.85 million.
• Johnson Outdoors also announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 3.7%.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) released its earnings results on Friday. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.51, Zacks reports. The business had revenue of $180.66 million during the quarter, compared to analysts' expectations of $172.98 million. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%.

Johnson Outdoors Price Performance

Shares of JOUT stock traded down $0.49 during trading hours on Thursday, hitting $37.36. The company had a trading volume of 7,386 shares, compared to its average volume of 53,033. The company's fifty day moving average is $31.15 and its 200 day moving average is $28.12. Johnson Outdoors has a fifty-two week low of $21.33 and a fifty-two week high of $39.58. The stock has a market capitalization of $385.88 million, a PE ratio of -9.65 and a beta of 0.81.

Johnson Outdoors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, July 10th. Johnson Outdoors's dividend payout ratio is currently -34.11%.

Hedge Funds Weigh In On Johnson Outdoors

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in shares of Johnson Outdoors by 17.3% in the 1st quarter. Acadian Asset Management LLC now owns 15,106 shares of the company's stock valued at $374,000 after purchasing an additional 2,230 shares in the last quarter. Empowered Funds LLC grew its position in Johnson Outdoors by 7.6% during the 1st quarter. Empowered Funds LLC now owns 20,782 shares of the company's stock worth $516,000 after purchasing an additional 1,468 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Johnson Outdoors by 127.5% in the first quarter. AQR Capital Management LLC now owns 33,515 shares of the company's stock valued at $833,000 after purchasing an additional 18,782 shares during the period. 64.05% of the stock is currently owned by institutional investors and hedge funds.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.