$456.52 Million in Sales Expected for Golfsmith International Holdings, Inc. (GOLF) This Quarter

Wall Street analysts forecast that Golfsmith International Holdings, Inc. (NASDAQ:GOLF) will report sales of $456.52 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Golfsmith International’s earnings. The lowest sales estimate is $449.15 million and the highest is $478.14 million. Golfsmith International reported sales of $427.99 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The firm is expected to report its next earnings results on Wednesday, November 14th.

On average, analysts expect that Golfsmith International will report full-year sales of $1.63 billion for the current fiscal year, with estimates ranging from $1.63 billion to $1.64 billion. For the next financial year, analysts forecast that the firm will post sales of $1.67 billion per share, with estimates ranging from $1.65 billion to $1.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Golfsmith International.

Golfsmith International (NASDAQ:GOLF) last issued its quarterly earnings data on Thursday, August 2nd. The specialty retailer reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.04). The company had revenue of $478.00 million for the quarter, compared to analyst estimates of $453.03 million. The firm’s quarterly revenue was up 11.7% on a year-over-year basis.

Several equities analysts have recently issued reports on GOLF shares. KeyCorp reaffirmed a “buy” rating and set a $28.00 price target on shares of Golfsmith International in a research note on Friday, August 3rd. Compass Point set a $25.00 target price on shares of Golfsmith International and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of Golfsmith International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Imperial Capital lifted their target price on shares of Golfsmith International from $22.00 to $26.00 and gave the stock an “in-line” rating in a research note on Monday, August 6th. Finally, Roth Capital set a $26.00 target price on shares of Golfsmith International and gave the stock a “hold” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.58.

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Golfsmith International in the first quarter worth about $110,000. Stratos Wealth Partners LTD. bought a new stake in Golfsmith International in the first quarter worth about $111,000. Allianz Asset Management GmbH bought a new stake in Golfsmith International in the first quarter worth about $264,000. Brinker Capital Inc. raised its position in shares of Golfsmith International by 40.3% in the first quarter. Brinker Capital Inc. now owns 13,705 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 3,938 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Golfsmith International by 58.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,250 shares of the specialty retailer’s stock valued at $349,000 after purchasing an additional 5,275 shares during the period.

Shares of Golfsmith International traded up $0.57, hitting $27.15, during trading hours on Thursday, Marketbeat.com reports. 215,556 shares of the company’s stock traded hands, compared to its average volume of 211,120. Golfsmith International has a 12 month low of $15.16 and a 12 month high of $27.56.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 30th.

Golfsmith International Company Profile

Golfsmith International Holdings, Inc, the parent company of Golfsmith International, Inc, is a holding company. The Company is a specialty retailer of golf and tennis equipment, apparel, footwear and accessories. The Company operates as an integrated multi-channel retailer, providing its customers the convenience of shopping in the retail stores across United States, through its Internet site, www.golfsmith.com, and from its catalogs.

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