Acushnet Holdings Corp (NYSE:GOLF) – Equities research analysts at SunTrust Banks lifted their Q2 2020 earnings per share estimates for Acushnet in a research note issued to investors on Monday, June 29th. SunTrust Banks analyst M. Swartz now anticipates that the company will earn $0.07 per share for the quarter, up from their prior forecast of ($0.07). SunTrust Banks currently has a “Hold” rating and a $30.00 target price on the stock. SunTrust Banks also issued estimates for Acushnet’s FY2020 earnings at $0.85 EPS and FY2021 earnings at $1.39 EPS.
Several other research firms have also recently weighed in on GOLF. Zacks Investment Research upgraded shares of Acushnet from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. KeyCorp reduced their price target on shares of Acushnet from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Wells Fargo & Co raised their price objective on shares of Acushnet from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Morgan Stanley dropped their price objective on shares of Acushnet from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 28th. Finally, Compass Point raised their price objective on shares of Acushnet from $21.50 to $22.25 and gave the company a “sell” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.39.
GOLF opened at $34.79 on Wednesday. Acushnet has a twelve month low of $20.65 and a twelve month high of $37.12. The company has a quick ratio of 1.00, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $32.76 and a 200-day moving average of $29.52. The stock has a market cap of $2.57 billion, a PE ratio of 23.51 and a beta of 0.89.
Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.25). Acushnet had a return on equity of 11.67% and a net margin of 5.74%. The firm had revenue of $408.70 million for the quarter, compared to analyst estimates of $422.46 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Van Berkom & Associates Inc. increased its holdings in Acushnet by 11.5% during the first quarter. Van Berkom & Associates Inc. now owns 2,821,829 shares of the company’s stock worth $72,577,000 after buying an additional 290,946 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Acushnet by 5.1% during the first quarter. JPMorgan Chase & Co. now owns 2,629,337 shares of the company’s stock worth $67,626,000 after buying an additional 126,749 shares during the last quarter. State Street Corp increased its holdings in Acushnet by 4.0% during the first quarter. State Street Corp now owns 730,141 shares of the company’s stock worth $18,779,000 after buying an additional 28,132 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Acushnet by 30.5% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 669,115 shares of the company’s stock worth $17,210,000 after buying an additional 156,500 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Acushnet by 9.0% during the first quarter. Geode Capital Management LLC now owns 502,172 shares of the company’s stock worth $12,915,000 after buying an additional 41,663 shares during the last quarter. Institutional investors and hedge funds own 45.47% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, June 4th. Acushnet’s payout ratio is currently 38.75%.
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.
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