Acushnet Holdings Corp. (NYSE:GOLF) Announces $0.24 Quarterly Dividend

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) declared a quarterly dividend on Wednesday, May 7th, RTT News reports. Shareholders of record on Friday, June 6th will be paid a dividend of 0.235 per share on Friday, June 20th. This represents a $0.94 annualized dividend and a yield of 1.42%.

Acushnet has increased its dividend by an average of 9.2% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Acushnet has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 28.1%.

Acushnet Stock Up 1.7 %

Shares of NYSE:GOLF traded up $1.11 during trading hours on Wednesday, hitting $66.12. The company's stock had a trading volume of 55,069 shares, compared to its average volume of 370,905. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm's fifty day moving average price is $64.24 and its 200 day moving average price is $67.40. Acushnet has a 52 week low of $55.00 and a 52 week high of $76.65. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 22.52 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. As a group, research analysts expect that Acushnet will post 3.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GOLF shares. Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $80.00 to $71.00 in a research report on Monday. JPMorgan Chase & Co. cut shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Truist Financial cut their price objective on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, KeyCorp lowered their target price on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $68.80.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 54.60% of the stock is currently owned by company insiders.

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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