Zacks: Analysts Expect Acushnet Holdings Corp. (NYSE:GOLF) to Post $0.13 Earnings Per Share

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.

A number of brokerages have recently weighed in on GOLF. Zacks Investment Research upgraded shares of Acushnet from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, August 6th. Morgan Stanley boosted their price objective 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. Truist lifted their target price on shares of Acushnet from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 25th. Roth Capital upped their price target on shares of Acushnet from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Finally, KeyCorp boosted their price objective on shares of Acushnet from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.29.

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.

About Acushnet

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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