Acushnet Holdings Corp. (NYSE:GOLF) Declares Dividend Increase – $0.24 Per Share

Acushnet Holdings Corp. (NYSE:GOLF) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors 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 dividend yield of 1.46%. The ex-dividend date is Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22.

Acushnet has increased its dividend payment by an average of 9.2% annually over the last three years. Acushnet has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

GOLF stock traded down $0.59 during mid-day trading on Friday, hitting $64.29. The company had a trading volume of 582,200 shares, compared to its average volume of 552,003. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The firm has a market cap 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 stock’s fifty day moving average price is $69.06 and its two-hundred day moving average price is $67.60.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. On average, analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on GOLF. KeyCorp decreased their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday. 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 research note on Friday, November 8th. Finally, JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.