Acushnet Holdings Corp. (GOLF) To Go Ex-Dividend on March 7th

Acushnet Holdings Corp. (NYSE:GOLF) declared 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 an increase from Acushnet’s previous quarterly dividend of $0.22.

Acushnet has raised its dividend by an average of 9.2% per year over the last three years. Acushnet has a payout ratio of 24.6% indicating that 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 %

Shares of GOLF opened at $64.29 on Friday. The stock’s fifty day simple moving average is $69.06 and its 200-day simple moving average is $67.60. The firm has a market capitalization of $3.91 billion, a PE ratio of 21.87 and a beta of 0.86. Acushnet has a 12-month low of $58.54 and a 12-month high of $76.65. 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 released its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. As a group, research analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Analyst Ratings Changes

GOLF has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. KeyCorp dropped their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, StockNews.com upgraded Acushnet from a “hold” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.00.

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.