Wall Street analysts forecast that Acushnet Holdings (NYSE:GOLF) will report $440.98 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Acushnet’s earnings, with the highest sales estimate coming in at $447.20 million and the lowest estimate coming in at $431.00 million. Acushnet reported sales of $433.62 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, May 3rd.
On average, analysts expect that Acushnet will report full year sales of $1.61 billion for the current fiscal year, with estimates ranging from $1.60 billion to $1.62 billion. For the next year, analysts forecast that the business will post sales of $1.65 billion per share, with estimates ranging from $1.63 billion to $1.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Acushnet.
Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, March 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Acushnet had a net margin of 5.90% and a return on equity of 11.09%. The business had revenue of $351.39 million during the quarter, compared to the consensus estimate of $340.49 million.
Several research firms have recently weighed in on GOLF. SunTrust Banks reissued a “buy” rating and issued a $24.00 price objective on shares of Acushnet in a research report on Friday, January 26th. KeyCorp increased their price objective on Acushnet from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Wells Fargo reissued a “market perform” rating on shares of Acushnet in a research report on Thursday, March 8th. ValuEngine raised Acushnet from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, DA Davidson reissued a “hold” rating on shares of Acushnet in a research report on Thursday, March 8th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $23.40.
Shares of GOLF traded up $0.19 during mid-day trading on Monday, hitting $24.30. The company’s stock had a trading volume of 179,768 shares, compared to its average volume of 228,162. Acushnet has a one year low of $15.16 and a one year high of $24.49. The company has a current ratio of 2.24, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1,795.70, a price-to-earnings ratio of 19.76, a P/E/G ratio of 2.65 and a beta of 0.14.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 19th were given a $0.13 dividend. This is a boost from Acushnet’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, March 16th. Acushnet’s dividend payout ratio (DPR) is 42.28%.
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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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