Brokerages expect Acushnet Holdings Corp (NYSE:GOLF) to post earnings per share of $0.29 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Acushnet’s earnings, with estimates ranging from $0.22 to $0.39. Acushnet reported earnings of $0.39 per share during the same quarter last year, which indicates a negative year over year growth rate of 25.6%. The company is scheduled to issue its next earnings results on Thursday, October 29th.
On average, analysts expect that Acushnet will report full year earnings of $0.68 per share for the current financial year, with EPS estimates ranging from $0.62 to $0.74. For the next year, analysts forecast that the business will post earnings of $1.41 per share, with EPS estimates ranging from $0.78 to $1.60. 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 issued its earnings results on Wednesday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.16). The firm had revenue of $300.00 million during the quarter, compared to analyst estimates of $339.41 million. Acushnet had a net margin of 3.94% and a return on equity of 7.91%. The firm’s revenue was down 35.1% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS.
A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Acushnet from $23.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. SunTrust Banks raised their target price on shares of Acushnet from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. Wells Fargo & Co raised their target price on shares of Acushnet from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Compass Point raised their target price on shares of Acushnet from $21.50 to $22.25 and gave the stock a “sell” rating in a research report on Monday, May 11th. Finally, Zacks Investment Research lowered shares of Acushnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Acushnet currently has a consensus rating of “Hold” and an average target price of $29.30.
GOLF stock traded down $0.53 during midday trading on Tuesday, reaching $34.62. 206,383 shares of the company were exchanged, compared to its average volume of 205,155. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 1.80. Acushnet has a 1-year low of $20.65 and a 1-year high of $39.85. The stock’s 50-day simple moving average is $36.16 and its 200 day simple moving average is $30.77. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 44.39 and a beta of 0.81.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.62 annualized dividend and a dividend yield of 1.79%. Acushnet’s payout ratio is currently 38.75%.
Several large investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its holdings in Acushnet by 6.6% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 28,721 shares of the company’s stock worth $739,000 after acquiring an additional 1,784 shares during the period. SG Americas Securities LLC lifted its stake in Acushnet by 21.8% in the second quarter. SG Americas Securities LLC now owns 85,648 shares of the company’s stock worth $2,980,000 after purchasing an additional 15,333 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Acushnet in the second quarter worth $511,000. BNP Paribas Arbitrage SA lifted its stake in Acushnet by 3.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,676 shares of the company’s stock worth $300,000 after purchasing an additional 373 shares during the last quarter. Finally, State Street Corp lifted its stake in Acushnet by 4.0% in the first quarter. State Street Corp now owns 730,141 shares of the company’s stock worth $18,779,000 after purchasing an additional 28,132 shares during the last quarter. 50.52% of the stock is owned by institutional investors and hedge funds.
Acushnet Company Profile
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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