Wall Street analysts expect Acushnet Holdings Corp. (NYSE:GOLF) to post earnings per share (EPS) of $0.13 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Acushnet’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.24. Acushnet reported earnings of $0.84 per share in the same quarter last year, which would indicate a negative year over year growth rate of 84.5%. The firm is expected to report its next earnings report 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 financial year, analysts anticipate that the business will report earnings of $2.35 per share, with EPS estimates ranging from $2.14 to $2.55. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Acushnet.
Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, August 4th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.32. Acushnet had a net margin of 11.89% and a return on equity of 24.27%. The firm had revenue of $624.90 million for the quarter, compared to analyst estimates of $530.90 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s quarterly revenue was up 108.3% compared to the same quarter last year.
Shares of GOLF traded up $0.66 during mid-day trading on Monday, hitting $48.07. 402 shares of the company were exchanged, compared to its average volume of 229,248. The company has a 50 day moving average of $50.53 and a 200-day moving average of $49.16. Acushnet has a 1-year low of $33.21 and a 1-year high of $56.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.73 and a current ratio of 2.44. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 14.39 and a beta of 0.79.
The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, September 2nd. Acushnet’s payout ratio is 38.15%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its holdings in Acushnet by 80.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock valued at $10,826,000 after purchasing an additional 208,527 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Acushnet by 2.1% in the first quarter. Alliancebernstein L.P. now owns 48,000 shares of the company’s stock valued at $1,984,000 after buying an additional 1,000 shares during the last quarter. Swiss National Bank raised its holdings in shares of Acushnet by 1.2% in the first quarter. Swiss National Bank now owns 84,900 shares of the company’s stock valued at $3,509,000 after buying an additional 1,000 shares during the last quarter. BlackRock Inc. raised its holdings in Acushnet by 4.5% during the 1st quarter. BlackRock Inc. now owns 2,628,238 shares of the company’s stock worth $108,626,000 after purchasing an additional 114,316 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Acushnet by 134.5% during the 1st quarter. Russell Investments Group Ltd. now owns 3,205 shares of the company’s stock worth $131,000 after purchasing an additional 1,838 shares during the last quarter. 48.77% of the stock is owned by institutional investors and hedge funds.
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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