Equities analysts expect that Acushnet Holdings Corp (NYSE:GOLF) will post sales of $475.93 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Acushnet’s earnings. The highest sales estimate is $480.40 million and the lowest is $464.70 million. Acushnet posted sales of $478.14 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The firm is expected to report its next earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Acushnet will report full year sales of $1.67 billion for the current year, with estimates ranging from $1.66 billion to $1.69 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.72 billion, with estimates ranging from $1.70 billion to $1.75 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Acushnet.
Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.11). Acushnet had a return on equity of 10.19% and a net margin of 5.74%. The company had revenue of $433.70 million for the quarter, compared to the consensus estimate of $445.66 million. During the same period last year, the firm posted $0.56 EPS. The company’s revenue was down 1.9% compared to the same quarter last year.
A number of brokerages recently issued reports on GOLF. ValuEngine raised shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Zacks Investment Research raised shares of Acushnet from a “sell” rating to a “hold” rating in a research report on Wednesday. Roth Capital set a $27.00 target price on shares of Acushnet and gave the stock a “hold” rating in a research report on Thursday, May 2nd. KeyCorp boosted their target price on shares of Acushnet from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Co dropped their target price on shares of Acushnet from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.59.
Shares of GOLF stock opened at $24.99 on Friday. Acushnet has a 1 year low of $20.24 and a 1 year high of $27.87. The firm has a market cap of $1.87 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.40 and a beta of 0.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 2.25.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, May 30th. Acushnet’s dividend payout ratio (DPR) is presently 42.42%.
A number of institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its holdings in Acushnet by 3.0% in the 1st quarter. Swiss National Bank now owns 61,300 shares of the company’s stock valued at $1,418,000 after buying an additional 1,800 shares during the period. Dimensional Fund Advisors LP increased its holdings in Acushnet by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,308,459 shares of the company’s stock valued at $30,279,000 after buying an additional 86,499 shares during the period. Envestnet Asset Management Inc. increased its holdings in Acushnet by 7.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 31,596 shares of the company’s stock valued at $731,000 after buying an additional 2,111 shares during the period. Wells Fargo & Company MN increased its holdings in Acushnet by 1.1% in the 1st quarter. Wells Fargo & Company MN now owns 134,932 shares of the company’s stock valued at $3,122,000 after buying an additional 1,502 shares during the period. Finally, Icon Wealth Partners LLC bought a new stake in Acushnet in the 1st quarter valued at $34,000. 50.54% of the stock is currently owned by hedge funds and other institutional investors.
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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