Zacks: Analysts Anticipate Acushnet Holdings Corp. (NYSE:GOLF) Will Post Earnings of $0.13 Per Share

Analysts expect Acushnet Holdings Corp. (NYSE:GOLF) to post $0.13 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Acushnet’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.07. Acushnet posted earnings of $0.84 per share during the same quarter last year, which suggests a negative year over year growth rate of 84.5%. The business is scheduled to issue its next quarterly earnings results on Friday, November 5th.

On average, analysts expect that Acushnet will report full year earnings of $2.25 per share for the current year, with EPS estimates ranging from $2.20 to $2.31. For the next fiscal year, analysts expect that the business will post earnings of $2.35 per share, with EPS estimates ranging from $2.14 to $2.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Acushnet.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, August 4th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.32. The business had revenue of $624.90 million during the quarter, compared to analyst estimates of $530.90 million. Acushnet had a net margin of 11.89% and a return on equity of 24.27%. Acushnet’s revenue for the quarter was up 108.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share.

Several equities research analysts recently issued reports on GOLF shares. Morgan Stanley increased their target price on shares of Acushnet from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. Roth Capital raised their price objective on Acushnet from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Truist lifted their target price on Acushnet from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 25th. KeyCorp lifted their price target on Acushnet from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, August 9th. Finally, Zacks Investment Research upgraded Acushnet from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Friday, August 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.29.

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Wealth LLC raised its stake in Acushnet by 35.7% during the 2nd quarter. NewEdge Wealth LLC now owns 43,776 shares of the company’s stock valued at $2,163,000 after purchasing an additional 11,511 shares during the period. Squarepoint Ops LLC boosted its holdings in Acushnet by 101.1% in the first quarter. Squarepoint Ops LLC now owns 16,905 shares of the company’s stock worth $699,000 after purchasing an additional 8,500 shares in the last quarter. Friess Associates LLC boosted its holdings in Acushnet by 75.4% during the first quarter. Friess Associates LLC now owns 83,037 shares of the company’s stock valued at $3,432,000 after acquiring an additional 35,707 shares during the period. Ameriprise Financial Inc. boosted its holdings in Acushnet by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 203,531 shares of the company’s stock valued at $8,409,000 after acquiring an additional 7,222 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Acushnet by 25.6% during the first quarter. Great West Life Assurance Co. Can now owns 2,994 shares of the company’s stock valued at $123,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds own 48.77% of the company’s stock.

Shares of GOLF stock opened at $51.03 on Monday. The stock has a market cap of $3.77 billion, a PE ratio of 15.28 and a beta of 0.77. The company’s fifty day moving average price is $51.26 and its 200-day moving average price is $48.56. Acushnet has a 12 month low of $32.66 and a 12 month high of $56.85. The company has a current ratio of 2.44, a quick ratio of 1.73 and a debt-to-equity ratio of 0.26.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Friday, September 3rd were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, September 2nd. Acushnet’s dividend payout ratio is currently 38.15%.

Acushnet Company Profile

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls.

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Earnings History and Estimates for Acushnet (NYSE:GOLF)

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