Acushnet Holdings Corp (GOLF) to Post FY2020 Earnings of $1.48 Per Share, Imperial Capital Forecasts

Acushnet Holdings Corp (NYSE:GOLF) – Stock analysts at Imperial Capital reduced their FY2020 earnings per share estimates for Acushnet in a research report issued on Friday, May 10th. Imperial Capital analyst G. Kelly now anticipates that the company will post earnings per share of $1.48 for the year, down from their previous estimate of $1.49.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.11). The firm had revenue of $433.70 million for the quarter, compared to analyst estimates of $445.66 million. Acushnet had a return on equity of 10.19% and a net margin of 5.74%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 EPS.



Several other research firms also recently weighed in on GOLF. ValuEngine upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Roth Capital upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their target price for the company from $27.00 to $28.00 in a report on Thursday, May 9th. Zacks Investment Research upgraded shares of Acushnet from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. TheStreet upgraded shares of Acushnet from a “c+” rating to a “b” rating in a report on Friday, March 29th. Finally, Wells Fargo & Co dropped their target price on shares of Acushnet from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.59.

Shares of NYSE GOLF opened at $24.44 on Monday. The company has a market cap of $1.87 billion, a PE ratio of 18.52, a PEG ratio of 2.40 and a beta of 0.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.25 and a quick ratio of 1.03. Acushnet has a 1 year low of $20.24 and a 1 year high of $27.87.

Hedge funds have recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new position in Acushnet in the 1st quarter valued at approximately $34,000. Advisor Group Inc. boosted its position in Acushnet by 29.9% in the 4th quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock valued at $42,000 after buying an additional 457 shares during the period. Advisors Asset Management Inc. boosted its position in Acushnet by 170.3% in the 4th quarter. Advisors Asset Management Inc. now owns 2,587 shares of the company’s stock valued at $55,000 after buying an additional 1,630 shares during the period. SG Americas Securities LLC purchased a new position in Acushnet in the 1st quarter valued at approximately $189,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Acushnet by 327.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,737 shares of the company’s stock valued at $226,000 after buying an additional 8,227 shares during the period. 50.54% of the stock is owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.14 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.56 annualized dividend and a yield of 2.29%. Acushnet’s dividend payout ratio is presently 42.42%.

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.

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Earnings History and Estimates for Acushnet (NYSE:GOLF)

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