Equities research analysts expect Acushnet Holdings Corp (NYSE:GOLF) to post sales of $361.56 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Acushnet’s earnings, with the lowest sales estimate coming in at $358.48 million and the highest estimate coming in at $365.00 million. Acushnet reported sales of $343.36 million in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The business is scheduled to report its next earnings report on Thursday, February 27th.
According to Zacks, analysts expect that Acushnet will report full-year sales of $1.68 billion for the current financial year, with estimates ranging from $1.67 billion to $1.68 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.72 billion, with estimates ranging from $1.71 billion to $1.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Acushnet.
Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. Acushnet had a net margin of 6.92% and a return on equity of 12.07%. The firm had revenue of $417.20 million for the quarter, compared to analyst estimates of $398.32 million. During the same period in the previous year, the business earned $0.09 EPS. The company’s revenue was up 12.6% compared to the same quarter last year.
GOLF stock traded down $0.08 during midday trading on Tuesday, hitting $30.98. The company’s stock had a trading volume of 201,007 shares, compared to its average volume of 180,904. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.95 and a quick ratio of 1.06. Acushnet has a twelve month low of $20.24 and a twelve month high of $31.63. The company’s fifty day moving average price is $29.66 and its 200 day moving average price is $26.86. The stock has a market capitalization of $2.33 billion, a P/E ratio of 20.57, a PEG ratio of 3.90 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, November 27th. Acushnet’s dividend payout ratio (DPR) is presently 42.42%.
In other news, insider Christopher Aaron Lindner sold 10,436 shares of Acushnet stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.68, for a total value of $309,740.48. Following the completion of the transaction, the insider now owns 79,944 shares of the company’s stock, valued at approximately $2,372,737.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 53.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Acushnet by 89.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,018 shares of the company’s stock worth $27,000 after buying an additional 482 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Acushnet by 3,520.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,231 shares of the company’s stock worth $32,000 after buying an additional 1,197 shares during the period. Bank of Montreal Can boosted its holdings in shares of Acushnet by 790.6% during the 2nd quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock worth $86,000 after buying an additional 2,933 shares during the period. Amica Retiree Medical Trust bought a new stake in shares of Acushnet during the 2nd quarter worth about $109,000. Finally, Aperio Group LLC bought a new stake in shares of Acushnet during the 2nd quarter worth about $135,000. 48.66% of the stock is owned by institutional investors.
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.
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