Johnson Outdoors (JOUT - Free Report) has slipped to a Zacks Rank #5 (Strong Sell) and it is the Bear of the Day today. Lets take a look at how the stock fell to the lowest Zacks Rank and if the outlook might be improving anytime soon.
Johnson Outdoors Inc. is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment.
The most recent earnings report was a bad one. The company missed the Zack Consensus Estimate by 44 cents in reporting a loss of 49 cents. That translates to a negative earnings surprise of -880%.
Following the big miss, estimates have dropped. The Zacks Consensus Estimate for 2018 slipped to $4.34 from $ 4.70.
The Zacks Consensus Estimate for 2019 also fell, dropping from $5.14 all the way down to $4.45.
Those negative revisions in earnings estimates are the reason for the lower Zacks Rank.
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