Acushnet (NYSE:GOLF) Declares Dividend Increase – $0.26 Per Share

Acushnet (NYSE:GOLF) declared a quarterly dividend on Thursday, February 26th. Investors of record on Friday, March 6th will be paid a dividend of 0.255 per share on Friday, March 20th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. This is a 8.5% increase from Acushnet’s previous quarterly dividend of $0.24.

Acushnet has increased its dividend payment 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 27.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Acushnet to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 28.1%.

Acushnet Price Performance

GOLF stock traded down $1.02 during mid-day trading on Friday, hitting $102.06. The company had a trading volume of 165,028 shares, compared to its average volume of 353,926. The company has a 50-day moving average price of $92.64 and a 200 day moving average price of $83.94. Acushnet has a 12-month low of $55.31 and a 12-month high of $104.81. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 27.88 and a beta of 0.89. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The firm had revenue of $477.22 million during the quarter, compared to the consensus estimate of $453.59 million. During the same period last year, the firm posted ($0.02) earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

About Acushnet

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.