Acushnet Holdings Corp (GOLF) Expected to Announce Earnings of $0.56 Per Share

Wall Street analysts expect that Acushnet Holdings Corp (NYSE:GOLF) will post $0.56 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Acushnet’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.63. Acushnet also posted earnings of $0.56 per share in the same quarter last year. The firm is scheduled to report its next earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Acushnet will report full-year earnings of $1.55 per share for the current financial year, with EPS estimates ranging from $1.44 to $1.70. For the next fiscal year, analysts forecast that the business will report earnings of $1.64 per share, with EPS estimates ranging from $1.49 to $1.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Acushnet.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 28th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The company had revenue of $343.36 million for the quarter, compared to analyst estimates of $340.46 million. Acushnet had a return on equity of 10.99% and a net margin of 6.11%.

GOLF has been the subject of several research analyst reports. Stephens initiated coverage on Acushnet in a research report on Tuesday, January 8th. They issued an “equal weight” rating for the company. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised Acushnet from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Saturday, January 19th. JPMorgan Chase & Co. initiated coverage on Acushnet in a research report on Thursday, December 20th. They issued a “hold” rating and a $24.00 price objective for the company. Finally, KeyCorp lifted their price objective on Acushnet from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $25.32.

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Acushnet by 36.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,221,960 shares of the company’s stock valued at $25,747,000 after buying an additional 323,961 shares in the last quarter. Norges Bank bought a new stake in Acushnet in the 4th quarter valued at about $6,301,000. BlackRock Inc. increased its position in Acushnet by 7.0% in the 4th quarter. BlackRock Inc. now owns 2,435,512 shares of the company’s stock valued at $51,317,000 after buying an additional 158,872 shares in the last quarter. River & Mercantile Asset Management LLP increased its position in Acushnet by 32.9% in the 4th quarter. River & Mercantile Asset Management LLP now owns 315,156 shares of the company’s stock valued at $6,634,000 after buying an additional 77,967 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Acushnet by 94.6% in the 4th quarter. First Trust Advisors LP now owns 141,069 shares of the company’s stock valued at $2,972,000 after buying an additional 68,595 shares in the last quarter. 50.85% of the stock is owned by hedge funds and other institutional investors.

GOLF traded down $0.40 during midday trading on Monday, hitting $22.74. 195,031 shares of the company were exchanged, compared to its average volume of 146,117. Acushnet has a 1-year low of $20.24 and a 1-year high of $27.87. The company has a current ratio of 2.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.74 billion, a PE ratio of 17.23, a PEG ratio of 2.23 and a beta of 0.87.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.14 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Acushnet’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 2.46%. Acushnet’s dividend payout ratio (DPR) is 42.42%.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.

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