Equities analysts expect that Acushnet Holdings Corp (NYSE:GOLF) will report $385.08 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Acushnet’s earnings. The highest sales estimate is $391.20 million and the lowest is $380.70 million. Acushnet reported sales of $417.17 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.7%. The company is scheduled to announce its next earnings report on Thursday, October 29th.
On average, analysts expect that Acushnet will report full-year sales of $1.50 billion for the current financial year, with estimates ranging from $1.42 billion to $1.68 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.66 billion, with estimates ranging from $1.55 billion to $1.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Acushnet.
Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). Acushnet had a net margin of 3.94% and a return on equity of 7.91%. The company had revenue of $300.00 million for the quarter, compared to the consensus estimate of $339.41 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was down 35.1% on a year-over-year basis.
GOLF has been the subject of a number of recent analyst reports. Compass Point boosted their target price on shares of Acushnet from $21.50 to $22.25 and gave the company a “sell” rating in a research note on Monday, May 11th. Wells Fargo & Co upped their price objective on shares of Acushnet from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Monday, May 11th. TheStreet downgraded shares of Acushnet from a “b” rating to a “c+” rating in a report on Wednesday, August 5th. Morgan Stanley upped their price objective on shares of Acushnet from $23.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, SunTrust Banks upped their price objective on shares of Acushnet from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, June 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $29.30.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Acushnet by 113.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,836,728 shares of the company’s stock valued at $237,850,000 after acquiring an additional 3,627,790 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Acushnet in the second quarter valued at $33,227,000. Van Berkom & Associates Inc. lifted its position in shares of Acushnet by 11.5% in the first quarter. Van Berkom & Associates Inc. now owns 2,821,829 shares of the company’s stock valued at $72,577,000 after acquiring an additional 290,946 shares in the last quarter. Raymond James & Associates lifted its position in shares of Acushnet by 101.2% in the second quarter. Raymond James & Associates now owns 560,975 shares of the company’s stock valued at $19,516,000 after acquiring an additional 282,126 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Acushnet by 80.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock valued at $10,826,000 after acquiring an additional 208,527 shares in the last quarter. Institutional investors own 50.52% of the company’s stock.
NYSE GOLF traded down $0.53 on Thursday, hitting $34.62. 206,383 shares of the stock were exchanged, compared to its average volume of 205,155. The firm has a market capitalization of $2.57 billion, a P/E ratio of 44.39 and a beta of 0.81. Acushnet has a 52-week low of $20.65 and a 52-week high of $39.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 1.80. The stock has a fifty day moving average price of $36.16 and a two-hundred day moving average price of $30.77.
The company 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 dividend on an annualized basis and a yield of 1.79%. Acushnet’s payout ratio is 38.75%.
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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