Wall Street brokers expect Acushnet Holdings Corp. (NYSE: GOLF) will announce revenue of $ 534.70 million for the current fiscal quarter, reports Zacks Investment Research. Five analysts have released estimates for Acushnet’s revenue, with the highest revenue estimate at $ 546.80 million and the lowest estimate at $ 526.80 million. Acushnet posted revenue of $ 300 million for the year-ago quarter, indicating a positive year-over-year growth rate of 78.2%. The company is expected to announce its next earnings report on Wednesday, August 4th.
On average, analysts expect Acushnet to post total annual sales of $ 1.86 billion for the current fiscal year, with estimates ranging between $ 1.85 billion and $ 1.88 billion. For the next fiscal year, analysts expect sales of 1.91 billion US dollars, with estimates ranging between 1.81 billion US dollars and 1.96 billion US dollars. Zacks’ sales averages are an average based on a survey of analysts covering Acushnet.
Acushnet (NYSE: GOLF) last released its quarterly results on Wednesday, May 5th. The company reported earnings per share of $ 1.13 for the quarter, beating Zacks’ consensus estimate of $ 0.68 by $ 0.45. Acushnet had a net margin of 9.64% and a return on equity of 17.82%. The company had revenue of $ 580.90 million for the quarter, compared to the consensus estimate of $ 499.29 million. For the same quarter last year, the company had earnings per share of $ 0.12. The company’s sales increased by 42.1% compared to the same quarter of the previous year.
Several research analysts for stocks have recently commented on GOLF shares. Compass Point upgraded Acushnet’s stock from a “sell” rating to a “neutral” rating and increased its target price for the company in a research release dated Wednesday the 28. Truist Securities announced in a research announcement on Friday , May 7, increased its target price on Acushnet shares from $ 42.00 to $ 48.00. Zacks Investment Research downgraded Acushnet’s shares from a “hold” rating to a “sell” rating in a research release on Friday April 30th. Morgan Stanley raised its target price on Acushnet from USD 44.00 to USD 50.00 and valued the company in a report on Monday the 10th. Finally, Truist raised its target price on Acushnet from USD 48.00 to USD 50.00 and gave the company a “hold” rating on Friday, June 25th. One analyst has rated the stock with a sell rating, three with a hold rating, and two with a buy rating on the company’s stock. The company currently has an average “hold” rating and an average price target of $ 48.14.
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NYSE: GOLF shares opened at $ 49.43 on Monday. Acushnet has a 52-week low of $ 32.42 and a 52-week high of $ 54.20. The company has a debt of 0.29, a current metric of 2.31 and a quick ratio of 1.49. The company has a 50-day moving average price of $ 49.60. The company has a market cap of $ 3.66 billion, a P / E of 21.59, and a beta of 0.77.
The company also recently announced a quarterly dividend, which was paid on Friday, June 18. Investors registered on Friday June 4th received a dividend of $ 0.165. The ex-dividend date was Thursday June 3rd. This equates to an annual dividend of $ 0.66 and a dividend yield of 1.34%. Acushnet’s payout ratio is 38.15%.
In other Acushnet news, director Yoon Soo (Gene) Yoon sold 650,000 shares in the company in a transaction on Monday, May 17. The stock sold at an average price of $ 48.68 for a total transaction of $ 31,642,000.00. Upon completion of the sale, the director now directly owns 28,417 shares in the company valued at approximately $ 1,383,339.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed on the SEC website. Insiders own 54.10% of the company’s stock.
A number of major investors have recently changed their positions in the business. Amundi Pioneer Asset Management Inc. increased its position in Acushnet stocks 80.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares in the company valued at $ 10,826,000 after purchasing an additional 208,527 shares during the period. BlackRock Inc. added 8.3% to its position in Acushnet stocks in the fourth quarter. BlackRock Inc. now owns 2,513,922 shares in the company valued at $ 101,914,000 after purchasing an additional 192,427 shares during the period. Alliancebernstein LP increased its position in Acushnet shares by 6.8% in the fourth quarter. Alliancebernstein LP now owns 47,000 shares in the company valued at $ 1,905,000 after purchasing an additional 3,000 shares during the period. ProShare Advisors LLC took a new position in Acushnet shares valued at approximately $ 308,000 during the fourth quarter. Finally, the Bank of New York Mellon Corp added 1.8% to its position in Acushnet stocks in the fourth quarter. Bank of New York Mellon Corp now owns 417,153 shares in the company valued at $ 16,912,000 after purchasing an additional 7,208 shares during the reporting period. 47.11% of the shares are owned by hedge funds and other institutional investors.
Acushnet company profile
Acushnet Holdings Corp. designs, develops, manufactures and sells golf products in the United States, Europe, the Middle East, Africa, Japan, Korea and internationally. The company operates in four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear and FootJoy Golf Wear.
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