Acushnet (GOLF) To Go Ex-Dividend on September 4th

Acushnet (NYSE:GOLF) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Friday, September 4th will be paid a dividend of 0.255 per share on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 4th.

Acushnet has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Acushnet has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Acushnet to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 24.8%.

Acushnet Trading Down 0.6%

GOLF opened at $85.83 on Wednesday. The stock has a market cap of $5.01 billion, a PE ratio of 23.39 and a beta of 0.81. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average of $102.29 and a 200-day moving average of $97.56. Acushnet has a 52 week low of $73.09 and a 52 week high of $119.65.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.45. The company had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Equities research analysts predict that Acushnet will post 4.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOLF shares. JPMorgan Chase & Co. upped their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Truist Financial boosted their price objective on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. Roth Capital reaffirmed a “neutral” rating and set a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $99.17.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.