Acushnet (GOLF) Set to Announce Earnings on Thursday

Acushnet (NYSE:GOLF) is scheduled to be releasing its earnings data before the market opens on Thursday, November 7th. Analysts expect Acushnet to post earnings of $0.79 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts expect Acushnet to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Acushnet Trading Down 0.6 %

Shares of GOLF stock traded down $0.39 during trading hours on Tuesday, reaching $62.28. 10,590 shares of the stock were exchanged, compared to its average volume of 307,094. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. Acushnet has a 12-month low of $53.68 and a 12-month high of $74.77. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.61 and a beta of 0.85. The company’s 50-day moving average price is $63.70 and its 200-day moving average price is $64.59.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOLF. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. 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 research note on Wednesday, August 7th. Finally, Truist Financial raised their price target on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and an average target price of $70.80.

Insiders Place Their Bets

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the sale, the director now owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 54.60% of the stock is owned by company insiders.

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.