Wall Street brokers expect Acushnet Holdings Corp. (NYSE: GOLF) will report revenue of $ 416.54 million for the current quarter, reports Zacks Investment Research. Five analysts have given estimates of Acushnet’s earnings. The lowest revenue estimate is $ 405.00 million and the highest is $ 426.70 million. Acushnet had revenue of $ 482.93 million in the year-ago quarter, which would mean a negative year-over-year growth rate of 13.7%. The company is expected to announce its next earnings report on Friday, November 5th.
On average, analysts expect Acushnet to post total annual sales of $ 1.98 billion for the current year, with estimates ranging between $ 1.96 and 1.99 billion. For the next fiscal year, analysts expect sales of 1.98 billion US dollars, with estimates ranging between 1.82 billion US dollars and 2.08 billion US dollars. Zacks Investment Research’s sales calculations are an average average based on a survey of sell-side research analysts covering Acushnet.
Acushnet (NYSE: GOLF) last released its earnings results on Wednesday, August 4th. The company reported earnings per share of $ 1.08 for the quarter, beating analysts’ consensus estimate of $ 0.76 by $ 0.32. The company had revenue of $ 624.90 million for the quarter, compared to analyst estimates of $ 530.90 million. Acushnet had a return on equity of 24.27% and a net margin of 11.89%. The company’s sales increased by 108.3% compared to the same quarter of the previous year. During the same period last year, the company earned $ 0.03 EPS.
A number of research analysts have commented on the GOLF share. Zacks Investment Research upgraded Acushnet from a “hold” rating to a “buy” rating and set a price target of $ 59.00 for the stock in a report dated Friday, August 6th. Roth Capital raised its target price on Acushnet from 56.00 to 62.00 US dollars and rated the company as a “Buy” in a research report on Thursday, August 5th. Truist raised his target price on Acushnet from USD 48.00 to USD 50.00 and rated the company as a “hold” in a research report on Friday, June 25th. KeyCorp raised its target price on Acushnet from $ 55.00 to $ 60.00 and rated the company as “overweight” in a research report on Monday, August 9th. Finally, Morgan Stanley raised its target price on Acushnet from US $ 50.00 to US $ 52.00 and rated the stock “equally weighted” in a research report on Wednesday, July 28th. Three research analysts for stocks have given the stock a hold rating and three have given the company a buy rating. According to data from MarketBeat, Acushnet has an average “Buy” rating and a consensus price target of $ 53.29.
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A number of institutional investors and hedge funds have recently changed their holdings in the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in Acushnet shares by 16.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,441,641 shares in the company valued at $ 417,017,000 after purchasing an additional 1,190,847 shares during the reporting period. Vanguard Group Inc. increased its stake in Acushnet shares by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,104,614 shares of the company valued at $ 153,368,000 after purchasing an additional 63,925 shares during the period. BlackRock Inc. increased its stake in Acushnet shares by 4.5% in the first quarter. BlackRock Inc. now owns 2,628,238 shares in the company valued at $ 108,626,000 after purchasing an additional 114,316 shares during the period. JPMorgan Chase & Co. increased its stake in Acushnet shares by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 2,380,270 shares in the company valued at $ 98,377,000 after purchasing an additional 15,732 shares during the reporting period. Finally, Principal Financial Group Inc. increased its stake in Acushnet shares by 0.6% in the second quarter. Principal Financial Group Inc. now owns 1,982,599 shares in the company valued at $ 97,941,000 after purchasing an additional 11,519 shares during the period. 48.77% of the shares are owned by institutional investors and hedge funds.
GOLF shares opened at $ 49.43 on Wednesday. The company has a current metric of 2.44, a quick ratio of 1.73 and debt of 0.26. The company has a market cap of $ 3.65 billion, a P / E of 14.80, and a beta of 0.77. Acushnet has a 1-year low of $ 32.64 and a 1-year high of $ 56.85. The 50 day simple moving average is $ 51.21 and the 200 day simple moving average is $ 48.41.
The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday September 3rd received a dividend of $ 0.165. The ex-dividend date of this dividend was Thursday September 2nd. This equates to an annual dividend of $ 0.66 and a yield of 1.34%. Acushnet’s payout ratio is currently 38.15%.
Acushnet company profile
Acushnet Holdings Corp. deals with the design, development, manufacture and sale of golf products. It operates in the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Equipment, FootJoy Golf Wear and Others. The Titleist Golf Balls segment encompasses the design and manufacture of golf balls.
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