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 (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%.
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.
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