Q2 2020 Earnings Forecast for Acushnet Holdings Corp (NYSE:GOLF) Issued By SunTrust Banks

Acushnet Holdings Corp (NYSE:GOLF) – Analysts at SunTrust Banks lifted their Q2 2020 earnings per share (EPS) estimates for Acushnet in a note issued to investors on Monday, June 29th. SunTrust Banks analyst M. Swartz now expects that the company will earn $0.07 per share for the quarter, up from their prior forecast of ($0.07). SunTrust Banks has a “Hold” rating and a $30.00 price objective on the stock. SunTrust Banks also issued estimates for Acushnet’s FY2020 earnings at $0.85 EPS and FY2021 earnings at $1.39 EPS.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Acushnet from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Morgan Stanley cut their price objective on Acushnet from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 28th. Roth Capital cut Acushnet from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Wednesday, May 27th. Wells Fargo & Co boosted their price target on Acushnet from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Finally, Compass Point boosted their price target on Acushnet from $21.50 to $22.25 and gave the stock a “sell” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.39.

Acushnet stock opened at $34.79 on Wednesday. The stock has a market capitalization of $2.57 billion, a PE ratio of 23.51 and a beta of 0.89. Acushnet has a 12 month low of $20.65 and a 12 month high of $37.12. The business has a 50 day simple moving average of $32.76 and a 200-day simple moving average of $29.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.00.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.25). Acushnet had a net margin of 5.74% and a return on equity of 11.67%. The company had revenue of $408.70 million during the quarter, compared to analysts’ expectations of $422.46 million. During the same quarter last year, the firm earned $0.46 EPS. Acushnet’s revenue for the quarter was down 5.8% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV lifted its stake in Acushnet by 6.6% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 28,721 shares of the company’s stock worth $739,000 after acquiring an additional 1,784 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Acushnet by 3.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,676 shares of the company’s stock worth $300,000 after acquiring an additional 373 shares in the last quarter. AXA lifted its stake in Acushnet by 57.2% during the 4th quarter. AXA now owns 142,300 shares of the company’s stock worth $4,625,000 after acquiring an additional 51,800 shares in the last quarter. Norges Bank acquired a new position in Acushnet during the 4th quarter worth about $12,474,000. Finally, Mackay Shields LLC acquired a new stake in Acushnet in the 1st quarter valued at about $1,798,000. 45.47% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Thursday, June 4th. Acushnet’s dividend payout ratio (DPR) is presently 38.75%.

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.

Read More: Most Active Stocks

Earnings History and Estimates for Acushnet (NYSE:GOLF)

Receive News & Ratings for Acushnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acushnet and related companies with MarketBeat.com's FREE daily email newsletter.