Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Friday, December 6th will be paid a dividend of 0.215 per share on Friday, December 20th. This represents a $0.86 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, December 6th.
Acushnet has raised its dividend payment by an average of 8.0% annually over the last three years. Acushnet has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $3.38 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 25.4%.
GOLF traded up $0.74 during midday trading on Friday, reaching $71.75. 301,854 shares of the company were exchanged, compared to its average volume of 313,713. Acushnet has a one year low of $53.68 and a one year high of $76.38. The company's fifty day moving average price is $63.62 and its 200 day moving average price is $64.63. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 24.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28.
Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same period last year, the company earned $0.85 earnings per share. The business's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts expect that Acushnet will post 3.02 EPS for the current year.
A number of equities research analysts recently issued reports on GOLF shares. Truist Financial increased their price objective on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday. Compass Point lowered their target price on shares of Acushnet from $78.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered shares of Acushnet from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Acushnet has an average rating of "Hold" and a consensus target price of $71.40.
Check Out Our Latest Report on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Acushnet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Acushnet wasn't on the list.
While Acushnet currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.