Acushnet (GOLF) Set to Announce Quarterly Earnings on Tuesday

Acushnet (NYSE:GOLF) will issue its quarterly earnings data before the market opens on Tuesday, August 6th. Analysts expect the company to announce earnings of $1.18 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The firm had revenue of $707.55 million for the quarter, compared to the consensus estimate of $692.41 million. On average, analysts expect Acushnet to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Acushnet Price Performance

Shares of NYSE:GOLF traded up $0.76 during midday trading on Tuesday, reaching $72.92. 24,261 shares of the company’s stock were exchanged, compared to its average volume of 309,243. The firm has a market capitalization of $4.60 billion, a PE ratio of 25.05 and a beta of 0.85. The company’s 50 day simple moving average is $64.86 and its two-hundred day simple moving average is $64.55. Acushnet has a 12 month low of $49.42 and a 12 month high of $73.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, June 7th. Acushnet’s dividend payout ratio is 29.86%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial boosted their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.38.

Insiders Place Their Bets

In other Acushnet news, Director Holdings Corp. Fila sold 587,520 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the sale, the director now owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 54.60% of the company’s stock.

About Acushnet

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.