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. It offers golf balls under the Titleist brand; golf clubs, such as drivers, fairways, hybrids, and irons under the Titleist brand name; wedges under the Vokey Design brand; and putters under the Scotty Cameron brand. The company also provides golf bags, headwear, golf gloves, travel products, head covers, and other golf accessories, as well as offers customization and personalization of products in Titleist golf gear. In addition, it offers golf shoes, gloves, golf outerwear, and men's and women's golf apparels under the FootJoy brand; and ski, golf, and lifestyle apparels under the KJUS brand name. It sells its products through on-course golf shops and golf specialty retailers, as well as through representatives, other retailers, and online. The company was formerly known as Alexandria Holdings Corp. and changed its name to Acushnet Holdings Corp. in March 2016. Acushnet Holdings Corp. was founded in 1910 and is headquartered in Fairhaven, Massachusetts.
Acushnet Stock Down 1.4 %
Shares of NYSE:GOLF opened at $52.50 on Friday. Acushnet has a 12 month low of $37.46 and a 12 month high of $57.87. The company's 50-day moving average price is $45.55 and its two-hundred day moving average price is $43.43. The company has a quick ratio of 1.10, a current ratio of 1.95 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.74 billion, a P/E ratio of 24.19 and a beta of 0.77.
Acushnet (NYSE:GOLF - Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. Acushnet had a net margin of 7.36% and a return on equity of 14.53%. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $581.89 million. During the same period in the prior year, the company posted $1.08 EPS. The company's revenue was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Acushnet will post 2.79 EPS for the current fiscal year.
Acushnet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Acushnet's dividend payout ratio is 33.18%.
Wall Street Analysts Forecast Growth
GOLF has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Acushnet from $56.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, April 25th. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Tuesday, June 21st. Finally, Truist Financial upped their target price on shares of Acushnet from $44.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.80.