Brokerages Expect Acushnet Holdings (GOLF) Will Post Quarterly Sales of $440.98 Million

Wall Street analysts expect Acushnet Holdings (NYSE:GOLF) to announce sales of $440.98 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Acushnet’s earnings, with the lowest sales estimate coming in at $431.00 million and the highest estimate coming in at $447.20 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 firm is scheduled to announce its next earnings results before the market opens on Thursday, May 3rd.

On average, analysts expect that Acushnet will report full year sales of $440.98 million for the current fiscal year, with estimates ranging from $1.60 billion to $1.62 billion. For the next financial year, analysts anticipate that the company will post sales of $1.65 billion per share, with estimates ranging from $1.63 billion to $1.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Acushnet.

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Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, March 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The firm had revenue of $351.39 million during the quarter, compared to analysts’ expectations of $340.49 million. Acushnet had a net margin of 5.90% and a return on equity of 11.09%.

A number of research firms have issued reports on GOLF. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a report on Monday, March 19th. Morgan Stanley restated an “overweight” rating on shares of Acushnet in a report on Thursday, March 8th. KeyCorp restated an “overweight” rating on shares of Acushnet in a report on Thursday, March 8th. Wells Fargo restated a “market perform” rating on shares of Acushnet in a report on Thursday, March 8th. Finally, Imperial Capital restated an “in-line” rating on shares of Acushnet in a 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 stock currently has an average rating of “Buy” and an average target price of $23.00.

NYSE:GOLF opened at $23.85 on Monday. The stock has a market capitalization of $1,776.32, a price-to-earnings ratio of 19.39, a PEG ratio of 2.62 and a beta of 0.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 2.24. Acushnet has a 12-month low of $15.16 and a 12-month high of $24.41.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 19th were issued a dividend of $0.13 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, March 16th. Acushnet’s dividend payout ratio is presently 42.28%.

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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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