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 given a dividend of 0.235 per share on Friday, March 21st. This represents a $0.94 annualized dividend and a yield of 1.44%. 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% per year over the last three years. Acushnet has a payout ratio of 24.7% 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 $0.94 annual dividend with an expected future payout ratio of 28.1%.

Acushnet Trading Up 0.9 %

NYSE GOLF opened at $65.40 on Wednesday. Acushnet has a one year low of $58.54 and a one year high of $76.65. The firm has a 50 day simple moving average of $68.70 and a 200-day simple moving average of $67.58. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 22.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The business had revenue of $445.17 billion during 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%. Equities research analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOLF shares. KeyCorp reduced their price target on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. StockNews.com upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Truist Financial raised their price target on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $77.00 to $80.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.80.

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.