Acushnet Holdings Corp (NYSE:GOLF) Expected to Announce Earnings of $0.23 Per Share

Brokerages expect that Acushnet Holdings Corp (NYSE:GOLF) will announce earnings of $0.23 per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Acushnet’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.17. Acushnet reported earnings per share of $0.15 in the same quarter last year, which suggests a positive year-over-year growth rate of 53.3%. The firm is expected to announce its next quarterly earnings results on Thursday, February 27th.

According to Zacks, analysts expect that Acushnet will report full-year earnings of $1.59 per share for the current year, with EPS estimates ranging from $1.55 to $1.63. For the next year, analysts anticipate that the firm will report earnings of $1.69 per share, with EPS estimates ranging from $1.64 to $1.75. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Acushnet.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $417.20 million for the quarter, compared to the consensus estimate of $398.32 million. Acushnet had a return on equity of 12.07% and a net margin of 6.92%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS.

A number of analysts have weighed in on the stock. Imperial Capital raised their price objective on shares of Acushnet from $24.00 to $27.00 and gave the stock an “inline” rating in a report on Friday, November 1st. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a report on Monday, January 6th. They noted that the move was a valuation call. Wells Fargo & Co increased their target price on shares of Acushnet from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Zacks Investment Research lowered shares of Acushnet from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research note on Wednesday, January 1st. Finally, Morgan Stanley set a $28.00 price target on shares of Acushnet and gave the company a “hold” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Acushnet presently has an average rating of “Hold” and an average price target of $28.72.

In other news, insider Christopher Aaron Lindner sold 10,436 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.68, for a total value of $309,740.48. Following the completion of the sale, the insider now directly owns 79,944 shares of the company’s stock, valued at $2,372,737.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 53.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its position in Acushnet by 89.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,018 shares of the company’s stock valued at $27,000 after buying an additional 482 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Acushnet by 3,520.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,231 shares of the company’s stock valued at $32,000 after buying an additional 1,197 shares during the period. Bank of Montreal Can lifted its holdings in shares of Acushnet by 790.6% in the 2nd quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock valued at $86,000 after buying an additional 2,933 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Acushnet in the third quarter valued at approximately $139,000. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Acushnet in the second quarter valued at approximately $251,000. Institutional investors own 48.66% of the company’s stock.

GOLF traded up $0.19 on Thursday, reaching $33.05. The company’s stock had a trading volume of 82,632 shares, compared to its average volume of 162,412. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 3.86 and a beta of 1.01. Acushnet has a fifty-two week low of $22.30 and a fifty-two week high of $33.00. The company has a quick ratio of 1.06, a current ratio of 1.95 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $31.85 and a two-hundred day moving average of $28.26.

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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