Golfsmith International Holdings, Inc. (GOLF) Expected to Post Quarterly Sales of $465.21 Million

Equities analysts expect Golfsmith International Holdings, Inc. (NASDAQ:GOLF) to post $465.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Golfsmith International Holdings’ earnings, with the highest sales estimate coming in at $474.48 million and the lowest estimate coming in at $458.10 million. The business is scheduled to report its next earnings results on Friday, August 11th.

According to Zacks, analysts expect that Golfsmith International Holdings will report full year sales of $465.21 million for the current financial year, with estimates ranging from $1.57 billion to $1.59 billion. For the next financial year, analysts expect that the company will post sales of $1.62 billion per share, with estimates ranging from $1.58 billion to $1.64 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Golfsmith International Holdings.

GOLF has been the topic of a number of analyst reports. Zacks Investment Research downgraded Golfsmith International Holdings from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Imperial Capital cut their price target on Golfsmith International Holdings from $20.00 to $19.00 and set an “in-line” rating on the stock in a report on Thursday, March 23rd. They noted that the move was a valuation call. Roth Capital set a $25.00 price target on Golfsmith International Holdings and gave the company a “buy” rating in a report on Wednesday, May 24th. Jefferies Group LLC set a $25.00 price target on Golfsmith International Holdings and gave the company a “buy” rating in a report on Wednesday, March 22nd. Finally, Credit Suisse Group set a $21.00 price target on Golfsmith International Holdings and gave the company a “hold” rating in a report on Sunday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $22.08.

A number of hedge funds and other institutional investors have recently made changes to their positions in GOLF. Levin Capital Strategies L.P. acquired a new position in shares of Golfsmith International Holdings during the fourth quarter valued at $29,010,000. JPMorgan Chase & Co. increased its position in shares of Golfsmith International Holdings by 39.3% in the first quarter. JPMorgan Chase & Co. now owns 3,548,698 shares of the specialty retailer’s stock valued at $61,322,000 after buying an additional 1,001,850 shares during the period. Wellington Management Group LLP increased its position in shares of Golfsmith International Holdings by 27.4% in the first quarter. Wellington Management Group LLP now owns 3,831,257 shares of the specialty retailer’s stock valued at $66,205,000 after buying an additional 824,246 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Golfsmith International Holdings during the fourth quarter valued at $16,184,000. Finally, Russell Investments Group Ltd. increased its position in shares of Golfsmith International Holdings by 83.6% in the first quarter. Russell Investments Group Ltd. now owns 1,226,997 shares of the specialty retailer’s stock valued at $21,199,000 after buying an additional 558,804 shares during the period.

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Golfsmith International Holdings (NASDAQ:GOLF) traded down 0.05% during midday trading on Thursday, hitting $19.03. The stock had a trading volume of 275,466 shares. The stock has a market cap of $1.42 billion and a PE ratio of 22.49. Golfsmith International Holdings has a 52-week low of $16.84 and a 52-week high of $22.31. The company’s 50 day moving average price is $19.02 and its 200-day moving average price is $18.60.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 31st. This represents a $0.48 annualized dividend and a yield of 2.52%.

About Golfsmith International Holdings

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