Acushnet (GOLF) to Release Quarterly Earnings on Tuesday

Acushnet (NYSE:GOLF) is scheduled to be issuing its quarterly earnings data 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business had revenue of $413.00 million for the quarter, compared to the consensus estimate 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 Price Performance

Shares of GOLF traded down $0.86 during midday trading on Tuesday, hitting $61.30. The company’s stock had a trading volume of 55,339 shares, compared to its average volume of 344,918. The company has a quick ratio of 0.84, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Acushnet has a one year low of $43.62 and a one year high of $70.10. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 21.45 and a beta of 0.87. The company’s fifty day simple moving average is $64.26 and its two-hundred day simple moving average is $61.40.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.215 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Acushnet’s previous quarterly dividend of $0.20. Acushnet’s dividend payout ratio is 29.76%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GOLF shares. Truist Financial lifted their price target on shares of Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. KeyCorp upped their price target on shares of Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Acushnet currently has an average rating of “Moderate Buy” and a consensus target price of $66.71.

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.