Acushnet (GOLF) Set to Announce Earnings on Tuesday

Acushnet (NYSE:GOLF) is scheduled to 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.Investors that are interested in registering for the company’s conference call can do so using this link.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $413.00 million for the quarter, compared to analyst estimates of $429.16 million. Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The firm’s revenue was down 7.7% compared to the same quarter last year. 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 %

Shares of GOLF opened at $62.18 on Monday. The business’s 50-day moving average price is $63.69 and its 200 day moving average price is $61.63. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $3.94 billion, a P/E ratio of 21.52 and a beta of 0.88. Acushnet has a 1-year low of $43.62 and a 1-year high of $70.10.

Acushnet Increases Dividend

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

Insider Activity

In related news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 stock was 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 $8,391,959.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total transaction of $580,410.00. Following the completion of the sale, the insider now owns 58,588 shares of the company’s stock, valued at $3,778,340.12. The disclosure for this sale can be found here. 54.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOLF has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. KeyCorp increased their target price on Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Acushnet presently has a consensus rating of “Moderate Buy” and an average price target of $66.71.

Acushnet Company Profile

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.