Equities research analysts forecast that Acushnet Holdings Corp (NYSE:GOLF) will post earnings per share (EPS) of $0.59 for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Acushnet’s earnings, with estimates ranging from $0.54 to $0.69. Acushnet posted earnings per share of $0.53 in the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The company is expected to report its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Acushnet will report full year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.74. For the next year, analysts anticipate that the business will post earnings of $1.61 per share, with EPS estimates ranging from $1.44 to $1.80. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Acushnet.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.11). Acushnet had a return on equity of 10.10% and a net margin of 5.74%. The firm had revenue of $433.70 million for the quarter, compared to analysts’ expectations of $445.66 million. During the same quarter in the prior year, the business posted $0.56 earnings per share. Acushnet’s revenue was down 1.9% on a year-over-year basis.

Several analysts recently issued reports on the company. Roth Capital upgraded Acushnet from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $28.00 in a report on Thursday, May 9th. Zacks Investment Research raised Acushnet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. TheStreet raised Acushnet from a “c+” rating to a “b” rating in a research report on Friday, March 29th. Compass Point downgraded Acushnet from a “buy” rating to a “neutral” rating and set a $24.91 target price on the stock. in a research report on Friday, March 1st. Finally, ValuEngine raised Acushnet from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.59.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its stake in shares of Acushnet by 29.9% in the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock valued at $42,000 after acquiring an additional 457 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Acushnet by 0.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 82,825 shares of the company’s stock valued at $1,917,000 after acquiring an additional 688 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Acushnet by 0.3% in the 4th quarter. Raymond James & Associates now owns 238,268 shares of the company’s stock valued at $5,020,000 after buying an additional 752 shares during the period. Stone Ridge Asset Management LLC grew its holdings in shares of Acushnet by 1.6% in the 4th quarter. Stone Ridge Asset Management LLC now owns 47,382 shares of the company’s stock valued at $998,000 after buying an additional 768 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Acushnet by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 38,921 shares of the company’s stock valued at $820,000 after buying an additional 1,273 shares during the period. 50.20% of the stock is currently owned by institutional investors.

Shares of NYSE:GOLF traded up $0.10 during midday trading on Friday, hitting $24.54. 1,582 shares of the stock were exchanged, compared to its average volume of 308,753. The company has a current ratio of 1.89, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. Acushnet has a 52-week low of $20.24 and a 52-week high of $27.87. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.37 and a beta of 0.91.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 30th. Acushnet’s payout ratio is 42.42%.

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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Earnings History and Estimates for Acushnet (NYSE:GOLF)

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