Acushnet Holdings Corp Forecasted to Earn Q1 2019 Earnings of $0.53 Per Share (GOLF)

Acushnet Holdings Corp (NYSE:GOLF) – Analysts at SunTrust Banks dropped their Q1 2019 earnings estimates for Acushnet in a report released on Monday, April 8th, according to Zacks Investment Research. SunTrust Banks analyst M. Swartz now anticipates that the company will earn $0.53 per share for the quarter, down from their prior forecast of $0.55. SunTrust Banks also issued estimates for Acushnet’s Q2 2019 earnings at $0.50 EPS, FY2019 earnings at $1.44 EPS and FY2020 earnings at $1.50 EPS.

Several other research firms also recently issued reports on GOLF. ValuEngine raised shares of Acushnet from a “hold” rating to a “buy” rating in a report on Saturday. Stephens initiated coverage on shares of Acushnet in a report on Tuesday, January 8th. They set an “equal weight” rating on the stock. Zacks Investment Research raised shares of Acushnet from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Saturday, January 19th. KeyCorp increased their price objective on shares of Acushnet from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and set a $24.91 price objective on the stock. in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $25.49.

GOLF traded up $0.60 during midday trading on Wednesday, hitting $26.03. 331,182 shares of the company traded hands, compared to its average volume of 173,466. The company has a quick ratio of 1.03, a current ratio of 2.25 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.45 and a beta of 0.91. Acushnet has a 52-week low of $20.24 and a 52-week high of $27.87.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 28th. The company reported $0.15 earnings per share (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 analysts’ expectations of $340.46 million. Acushnet had a net margin of 6.11% and a return on equity of 10.99%.

Several large investors have recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in shares of Acushnet by 29.9% in the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Acushnet by 0.3% in the fourth quarter. Raymond James & Associates now owns 238,268 shares of the company’s stock worth $5,020,000 after buying an additional 752 shares in the last quarter. Stone Ridge Asset Management LLC increased its position in Acushnet by 1.6% during the fourth quarter. Stone Ridge Asset Management LLC now owns 47,382 shares of the company’s stock worth $998,000 after purchasing an additional 768 shares during the last quarter. California Public Employees Retirement System increased its position in Acushnet by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 38,921 shares of the company’s stock worth $820,000 after purchasing an additional 1,273 shares during the last quarter. Finally, Brinker Capital Inc. increased its position in Acushnet by 11.6% during the first quarter. Brinker Capital Inc. now owns 14,713 shares of the company’s stock worth $340,000 after purchasing an additional 1,524 shares during the last quarter. 50.46% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Acushnet (NYSE:GOLF)

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