Zacks: Brokerages Anticipate Acushnet Holdings Corp. (NYSE:GOLF) Will Post Earnings of $0.13 Per Share

Analysts expect that Acushnet Holdings Corp. (NYSE:GOLF) will announce earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acushnet’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.24. Acushnet reported earnings per share of $0.84 during the same quarter last year, which indicates a negative year over year growth rate of 84.5%. The company is expected to report its next quarterly earnings results on Friday, November 5th.

According to Zacks, analysts expect that Acushnet will report full-year earnings of $2.25 per share for the current year, with EPS estimates ranging from $2.20 to $2.31. For the next fiscal year, analysts anticipate that the company will post earnings of $2.35 per share, with EPS estimates ranging from $2.14 to $2.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Acushnet.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.32. Acushnet had a net margin of 11.89% and a return on equity of 24.27%. The business had revenue of $624.90 million during the quarter, compared to analyst estimates of $530.90 million. During the same quarter last year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 108.3% compared to the same quarter last year.

GOLF has been the subject of several recent research reports. Zacks Investment Research raised shares of Acushnet from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday, August 6th. Truist raised their target price on shares of Acushnet from $48.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 25th. KeyCorp raised their target price on shares of Acushnet from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, August 9th. Morgan Stanley raised their target price on shares of Acushnet from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, July 28th. Finally, Roth Capital raised their target price on shares of Acushnet from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $53.29.

Shares of NYSE GOLF traded down $0.96 during midday trading on Monday, hitting $50.07. The company’s stock had a trading volume of 2,372 shares, compared to its average volume of 243,009. The business’s fifty day simple moving average is $51.26 and its two-hundred day simple moving average is $48.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.44 and a quick ratio of 1.73. Acushnet has a 1 year low of $32.66 and a 1 year high of $56.85. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.04 and a beta of 0.77.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, September 2nd. This represents a $0.66 dividend on an annualized basis and a yield of 1.32%. Acushnet’s payout ratio is currently 38.15%.

A number of hedge funds have recently added to or reduced their stakes in GOLF. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Acushnet by 16.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,441,641 shares of the company’s stock valued at $417,017,000 after acquiring an additional 1,190,847 shares during the period. FMR LLC increased its holdings in shares of Acushnet by 558.1% in the 2nd quarter. FMR LLC now owns 871,665 shares of the company’s stock valued at $43,060,000 after acquiring an additional 739,222 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Acushnet by 80.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock valued at $10,826,000 after acquiring an additional 208,527 shares during the period. Millennium Management LLC increased its holdings in shares of Acushnet by 1,122.6% in the 1st quarter. Millennium Management LLC now owns 181,898 shares of the company’s stock valued at $7,518,000 after acquiring an additional 167,020 shares during the period. Finally, NFJ Investment Group LLC acquired a new position in shares of Acushnet in the 1st quarter valued at $5,808,000. 48.77% of the stock is currently owned by institutional investors.

About Acushnet

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls.

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