Acushnet (GOLF) to Release Earnings on Tuesday

Acushnet (NYSE:GOLF) is scheduled to be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $1.24 per share for the quarter. Acushnet has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $413.00 million for the quarter, compared to analysts’ expectations of $429.16 million. Acushnet had a return on equity of 20.09% and a net margin of 8.33%. Acushnet’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts expect Acushnet to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Acushnet Price Performance

Shares of NYSE:GOLF traded down $0.86 during trading on Tuesday, hitting $61.30. 55,339 shares of the stock were exchanged, compared to its average volume of 344,918. The company has a fifty day moving average price of $64.26 and a two-hundred day moving average price of $61.40. The company has a market cap of $3.88 billion, a PE ratio of 21.45 and a beta of 0.87. Acushnet has a 12-month low of $43.62 and a 12-month high of $70.10. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.215 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.86 annualized dividend and a yield of 1.40%. Acushnet’s dividend payout ratio is 29.76%.

Insider Activity

In related news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the sale, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Acushnet news, insider Brendan J. Reidy sold 9,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the sale, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. Insiders own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GOLF. Truist Financial increased their price objective on shares of Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. KeyCorp increased their target price on Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.71.

About Acushnet

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.