Q3 2024 EPS Estimates for Acushnet Holdings Corp. (NYSE:GOLF) Decreased by Analyst

Acushnet Holdings Corp. (NYSE:GOLF) – Research analysts at Roth Capital dropped their Q3 2024 earnings per share estimates for shares of Acushnet in a research note issued to investors on Tuesday, August 6th. Roth Capital analyst G. Kelly now forecasts that the company will post earnings of $0.56 per share for the quarter, down from their prior estimate of $0.86. The consensus estimate for Acushnet’s current full-year earnings is $3.12 per share. Roth Capital also issued estimates for Acushnet’s Q4 2024 earnings at ($0.17) EPS and Q4 2025 earnings at ($0.19) EPS.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. Acushnet’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share.

A number of other equities analysts have also recently issued reports on the stock. Compass Point decreased their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Truist Financial increased their price objective on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.63.

Acushnet Stock Down 1.3 %

Shares of NYSE GOLF opened at $67.38 on Friday. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 23.40 and a beta of 0.85. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average is $65.85 and its 200 day moving average is $64.87. Acushnet has a 52 week low of $49.42 and a 52 week high of $74.77.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, September 6th. Acushnet’s payout ratio is presently 29.86%.

Insider Activity at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 587,520 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $63.83, for a total value of $37,501,401.60. Following the completion of the transaction, the director now owns 32,522,966 shares in the company, valued at $2,075,940,919.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 54.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Azzad Asset Management Inc. ADV boosted its position in shares of Acushnet by 1.9% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,305 shares of the company’s stock worth $614,000 after purchasing an additional 173 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in Acushnet by 5.2% in the second quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after acquiring an additional 176 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Acushnet by 8.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after acquiring an additional 260 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Acushnet by 7.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after acquiring an additional 269 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Acushnet by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 20,815 shares of the company’s stock worth $1,315,000 after purchasing an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

About Acushnet

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.