Acushnet Holdings Corp (GOLF) Expected to Post FY2020 Earnings of $1.85 Per Share

Acushnet Holdings Corp (NYSE:GOLF) – Equities researchers at KeyCorp issued their FY2020 EPS estimates for Acushnet in a research note issued to investors on Wednesday, January 9th. KeyCorp analyst B. Andress expects that the company will earn $1.85 per share for the year.

Other equities research analysts have also recently issued research reports about the company. Stephens started coverage on Acushnet in a research note on Tuesday. They issued an “equal weight” rating on the stock. JPMorgan Chase & Co. began coverage on Acushnet in a report on Thursday, December 20th. They issued a “hold” rating and a $24.00 target price for the company. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. Imperial Capital reissued an “in-line” rating and issued a $26.00 price objective on shares of Acushnet in a research report on Friday, November 2nd. Finally, ValuEngine lowered Acushnet from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Acushnet has a consensus rating of “Hold” and a consensus target price of $25.29.

Shares of GOLF opened at $22.31 on Thursday. Acushnet has a 52-week low of $17.55 and a 52-week high of $27.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.18. The company has a market capitalization of $1.65 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, November 1st. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.06). The firm had revenue of $370.43 million during the quarter, compared to analyst estimates of $358.70 million. Acushnet had a net margin of 6.10% and a return on equity of 11.27%.

Several large investors have recently bought and sold shares of GOLF. Martingale Asset Management L P purchased a new stake in shares of Acushnet during the 3rd quarter worth $217,000. Legal & General Group Plc lifted its holdings in shares of Acushnet by 141.9% in the third quarter. Legal & General Group Plc now owns 13,297 shares of the company’s stock valued at $365,000 after purchasing an additional 7,801 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Acushnet by 4.7% in the third quarter. Teachers Advisors LLC now owns 64,943 shares of the company’s stock valued at $1,781,000 after buying an additional 2,898 shares during the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were issued a $0.13 dividend. The ex-dividend date was Thursday, November 29th. This represents a $0.52 dividend on an annualized basis and a yield of 2.33%. Acushnet’s payout ratio is 42.28%.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products worldwide. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. The Titleist Golf Balls segment designs, manufactures, and sells golf balls under the Titleist brands, such as Tour Soft, Velocity, and DT TruSoft, as well as under the Pinnacle brand.

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