Acushnet Holdings Corp. (NYSE:GOLF) Plans Quarterly Dividend of $0.24

Acushnet Holdings Corp. (NYSE:GOLF) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.235 per share on Friday, March 21st. This represents a $0.94 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.22.

Acushnet has increased its dividend payment by an average of 9.2% per year over the last three years. Acushnet has a payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Acushnet to earn $3.35 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 25.7%.

Acushnet Trading Down 0.9 %

GOLF traded down $0.59 during trading on Friday, hitting $64.29. The company’s stock had a trading volume of 582,200 shares, compared to its average volume of 552,003. The firm has a market capitalization of $3.91 billion, a P/E ratio of 21.87 and a beta of 0.86. Acushnet has a twelve month low of $58.54 and a twelve month high of $76.65. The stock’s fifty day moving average price is $69.06 and its 200-day moving average price is $67.60. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Analysts anticipate that Acushnet will post 3.06 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on GOLF. Truist Financial lifted their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. KeyCorp dropped their price objective on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.00.

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.