Acushnet (NYSE:GOLF) Declares Quarterly Dividend of $0.26

Acushnet (NYSE:GOLF) declared a quarterly dividend on Thursday, February 26th. Shareholders of record on Friday, March 6th will be paid a dividend of 0.255 per share on Friday, March 20th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a 8.5% increase from Acushnet’s previous quarterly dividend of $0.24.

Acushnet has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Acushnet has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 28.1%.

Acushnet Stock Down 1.0%

Shares of GOLF stock traded down $1.02 during mid-day trading on Friday, hitting $102.06. 165,028 shares of the stock traded hands, compared to its average volume of 353,926. Acushnet has a 52-week low of $55.31 and a 52-week high of $104.81. The stock has a market cap of $5.99 billion, a P/E ratio of 27.88 and a beta of 0.89. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The stock’s fifty day moving average is $92.64 and its two-hundred day moving average is $83.94.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The firm had revenue of $477.22 million for the quarter, compared to the consensus estimate of $453.59 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. Equities analysts predict that Acushnet will post 3.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOLF shares. JPMorgan Chase & Co. upgraded Acushnet from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $74.00 to $96.00 in a report on Friday, January 23rd. Truist Financial increased their price target on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a report on Thursday. UBS Group set a $100.00 price objective on shares of Acushnet in a report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.57.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.