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

Analysts predict that Acushnet Holdings Corp (NYSE:GOLF) will announce earnings per share of $0.23 for the current quarter, Zacks reports. Seven analysts have made estimates for Acushnet’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.17. Acushnet reported earnings per share of $0.15 during the same quarter last year, which would suggest a positive year-over-year growth rate of 53.3%. The business is expected to report its next earnings report 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 fiscal year, analysts anticipate that the company will report earnings of $1.69 per share, with EPS estimates ranging from $1.64 to $1.75. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Acushnet.

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

A number of research firms have recently commented on GOLF. Zacks Investment Research downgraded shares of Acushnet from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Wednesday, January 1st. Morgan Stanley set a $28.00 target price on Acushnet and gave the stock a “hold” rating in a report on Friday, November 1st. Wells Fargo & Co increased their price target on Acushnet from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Imperial Capital increased their price target on Acushnet from $24.00 to $27.00 and gave the company an “inline” rating in a research report on Friday, November 1st. Finally, SunTrust Banks set a $26.00 price target on Acushnet and gave the company a “hold” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $28.72.

In related news, insider Christopher Aaron Lindner sold 10,436 shares of Acushnet stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.68, for a total transaction of $309,740.48. Following the completion of the transaction, the insider now owns 79,944 shares in the company, valued at $2,372,737.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 53.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of Acushnet by 362.6% in the third quarter. Millennium Management LLC now owns 200,446 shares of the company’s stock valued at $5,291,000 after purchasing an additional 157,119 shares during the period. Barclays PLC grew its stake in Acushnet by 14.1% in the 3rd quarter. Barclays PLC now owns 38,294 shares of the company’s stock valued at $1,011,000 after buying an additional 4,733 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Acushnet by 41.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,441 shares of the company’s stock valued at $38,000 after acquiring an additional 423 shares during the period. WealthPLAN Partners LLC raised its holdings in Acushnet by 0.8% in the 3rd quarter. WealthPLAN Partners LLC now owns 116,925 shares of the company’s stock valued at $3,563,000 after acquiring an additional 961 shares during the period. Finally, California State Teachers Retirement System lifted its position in Acushnet by 1.2% during the third quarter. California State Teachers Retirement System now owns 54,835 shares of the company’s stock worth $1,448,000 after acquiring an additional 655 shares during the last quarter. 48.66% of the stock is currently owned by institutional investors and hedge funds.

NYSE GOLF traded up $0.19 during trading on Thursday, hitting $33.05. The stock had a trading volume of 82,632 shares, compared to its average volume of 162,412. Acushnet has a 12 month low of $22.30 and a 12 month high of $33.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.06 and a current ratio of 1.95. The company’s 50-day moving average price is $31.85 and its two-hundred day moving average price is $28.26. The company has a market capitalization of $2.45 billion, a PE ratio of 25.04, a P/E/G ratio of 3.86 and a beta of 1.01.

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.

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