Acushnet Holdings Corp (GOLF) Expected to Post Quarterly Sales of $483.49 Million
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.
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%.
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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