Research Analysts Offer Predictions for Acushnet Holdings Corp.’s FY2023 Earnings (NYSE:GOLF)

Acushnet Holdings Corp. (NYSE:GOLF) – Equities researchers at KeyCorp raised their FY2023 EPS estimates for Acushnet in a research note issued on Thursday, November 2nd. KeyCorp analyst N. Zatzkin now forecasts that the company will post earnings of $3.00 per share for the year, up from their prior estimate of $2.91. KeyCorp currently has a “Overweight” rating and a $65.00 target price on the stock. The consensus estimate for Acushnet’s current full-year earnings is $2.86 per share. KeyCorp also issued estimates for Acushnet’s Q2 2024 earnings at $1.20 EPS, Q3 2024 earnings at $0.78 EPS and FY2024 earnings at $3.29 EPS.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.16. The company had revenue of $689.40 million for the quarter, compared to analyst estimates of $673.30 million. Acushnet had a net margin of 9.23% and a return on equity of 21.42%. Acushnet’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share.

Several other research firms have also issued reports on GOLF. Roth Mkm dropped their target price on shares of Acushnet from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group upgraded shares of Acushnet from a “hold” rating to a “buy” rating and boosted their target price for the company from $61.00 to $84.00 in a report on Monday, August 21st. StockNews.com assumed coverage on shares of Acushnet in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Truist Financial boosted their target price on shares of Acushnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, October 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.88.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $55.20 on Monday. The firm has a market cap of $3.67 billion, a PE ratio of 17.41 and a beta of 0.86. The firm’s fifty day moving average is $54.26 and its 200-day moving average is $53.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.29 and a current ratio of 2.53. Acushnet has a 52 week low of $42.06 and a 52 week high of $61.98.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.78 annualized dividend and a dividend yield of 1.41%. Acushnet’s dividend payout ratio is currently 24.61%.

Insider Activity

In other news, insider Brendan J. Reidy sold 17,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $56.08, for a total transaction of $953,360.00. Following the transaction, the insider now owns 55,101 shares in the company, valued at $3,090,064.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Several institutional investors have recently made changes to their positions in GOLF. First Horizon Advisors Inc. increased its position in shares of Acushnet by 527.8% during the second quarter. First Horizon Advisors Inc. now owns 496 shares of the company’s stock worth $27,000 after acquiring an additional 417 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Acushnet during the third quarter worth about $30,000. UMB Bank n.a. increased its position in shares of Acushnet by 2,638.1% during the second quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after acquiring an additional 554 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Acushnet during the third quarter worth about $37,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Acushnet during the second quarter worth about $43,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

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.