Wall Street brokerages expect Acushnet Holdings Corp (NYSE:GOLF) to report sales of $483.49 million for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Acushnet’s earnings, with the lowest sales estimate coming in at $477.00 million and the highest estimate coming in at $488.00 million. Acushnet posted sales of $478.14 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Acushnet will report full-year sales of $1.67 billion for the current fiscal year, with estimates ranging from $1.66 billion to $1.69 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.71 billion, with estimates ranging from $1.69 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Acushnet.

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

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

Institutional investors have recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new stake in shares of Acushnet in the first quarter worth about $34,000. Advisor Group Inc. lifted its holdings in shares of Acushnet by 29.9% in the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Acushnet by 170.3% in the fourth quarter. Advisors Asset Management Inc. now owns 2,587 shares of the company’s stock worth $55,000 after buying an additional 1,630 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Acushnet in the first quarter worth about $189,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Acushnet in the first quarter worth about $224,000. 50.18% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GOLF opened at $23.81 on Tuesday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 3.07 and a beta of 0.92. Acushnet has a 52 week low of $20.24 and a 52 week high of $27.87. The company has a current ratio of 1.89, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, May 30th. Acushnet’s payout ratio is 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.

Further Reading: Return on Investment (ROI) Defined, Explained

Get a free copy of the Zacks research report on Acushnet (GOLF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Acushnet (NYSE:GOLF)

Receive News & Ratings for Acushnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acushnet and related companies with MarketBeat.com's FREE daily email newsletter.