Acushnet (GOLF) to Release Quarterly Earnings on Tuesday

Acushnet (NYSE:GOLF) is scheduled to be issuing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $1.24 per share for the quarter. Acushnet has set its FY 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The company had revenue of $413.00 million during the quarter, compared to analyst estimates of $429.16 million. The business’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 Stock Up 0.5 %

Acushnet stock opened at $62.18 on Monday. The stock has a 50-day simple moving average of $63.69 and a 200-day simple moving average of $61.63. The company has a market capitalization of $3.94 billion, a P/E ratio of 21.52 and a beta of 0.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.84 and a current ratio of 2.21. Acushnet has a fifty-two week low of $43.62 and a fifty-two week high of $70.10.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued 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 is presently 29.76%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOLF. Truist Financial increased their price target on shares of Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. KeyCorp raised their price target on Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Acushnet presently has an average rating of “Moderate Buy” and an average target price of $66.71.

Insider Transactions at Acushnet

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

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.