Acushnet (GOLF) to Release Earnings on Tuesday

Acushnet (NYSE:GOLF) will post its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect Acushnet to post earnings of $1.24 per share for the quarter. Acushnet has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

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

Acushnet Trading Up 0.5 %

NYSE GOLF opened at $62.18 on Friday. The firm has a market cap of $3.94 billion, a PE ratio of 21.52 and a beta of 0.88. Acushnet has a 52 week low of $43.62 and a 52 week high of $70.10. The company has a quick ratio of 0.84, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average price of $63.69 and a 200 day moving average price of $61.57.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.215 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Acushnet’s previous quarterly dividend of $0.20. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.38%. Acushnet’s dividend payout ratio is presently 29.76%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.