$0.72 EPS Expected for Acushnet Holdings Corp. (NYSE:GOLF) This Quarter

Equities analysts expect Acushnet Holdings Corp. (NYSE:GOLFGet Rating) to post earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Acushnet’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.62. Acushnet posted earnings per share of $1.08 in the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Acushnet will report full-year earnings of $2.78 per share for the current financial year, with EPS estimates ranging from $2.65 to $2.90. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.92 per share, with EPS estimates ranging from $2.73 to $3.03. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Acushnet.

Acushnet (NYSE:GOLFGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.30. Acushnet had a net margin of 8.05% and a return on equity of 15.47%. The business had revenue of $606.10 million for the quarter, compared to analyst estimates of $571.20 million. During the same period in the previous year, the company earned $1.13 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Truist Financial lowered their price objective on shares of Acushnet from $48.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, April 11th. KeyCorp decreased their target price on shares of Acushnet from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, March 3rd. StockNews.com upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Thursday, June 2nd. Finally, Morgan Stanley decreased their target price on shares of Acushnet from $56.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $53.14.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in shares of Acushnet by 25.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 68,528 shares of the company’s stock valued at $2,759,000 after buying an additional 13,859 shares during the period. Jane Street Group LLC purchased a new stake in shares of Acushnet in the 1st quarter valued at approximately $364,000. KB Financial Partners LLC grew its stake in shares of Acushnet by 26.5% in the 1st quarter. KB Financial Partners LLC now owns 8,882 shares of the company’s stock valued at $358,000 after buying an additional 1,861 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Acushnet by 145.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 9,496 shares of the company’s stock valued at $382,000 after buying an additional 5,621 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Acushnet by 123.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 17,780 shares of the company’s stock valued at $716,000 after buying an additional 9,810 shares during the period. 49.45% of the stock is owned by institutional investors.

Shares of NYSE:GOLF traded up $0.51 on Thursday, hitting $43.63. 291,240 shares of the company were exchanged, compared to its average volume of 281,734. Acushnet has a 1-year low of $37.46 and a 1-year high of $57.87. The stock’s 50 day moving average price is $41.32 and its 200 day moving average price is $45.56. The company has a current ratio of 1.97, a quick ratio of 1.13 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.15 billion, a P/E ratio of 18.65 and a beta of 0.76.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.65%. Acushnet’s dividend payout ratio is currently 30.77%.

About Acushnet (Get Rating)

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.

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Earnings History and Estimates for Acushnet (NYSE:GOLF)

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