Acushnet (NYSE:GOLF) Increases Dividend to $0.26 Per Share

Acushnet (NYSE:GOLF) announced a quarterly dividend on Thursday, February 26th. Stockholders of record on Friday, March 6th will be paid a dividend of 0.255 per share on Friday, March 20th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. This is a 8.5% increase from Acushnet’s previous quarterly dividend of $0.24.

Acushnet has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Acushnet has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Acushnet stock traded down $1.05 during midday trading on Friday, reaching $102.02. The stock had a trading volume of 169,202 shares, compared to its average volume of 354,134. The firm has a market capitalization of $5.98 billion, a PE ratio of 27.87 and a beta of 0.89. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The firm’s 50-day moving average price is $92.64 and its 200 day moving average price is $83.94. Acushnet has a 12 month low of $55.31 and a 12 month high of $104.81.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $477.22 million during the quarter, compared to analysts’ expectations of $453.59 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOLF. Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a report on Thursday. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $74.00 to $96.00 in a report on Friday, January 23rd. Roth Mkm restated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research report on Thursday, November 6th. Finally, UBS Group set a $100.00 price objective on shares of Acushnet in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.57.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.