Acushnet (NYSE:GOLF) Announces Quarterly Dividend of $0.26

Acushnet (NYSE:GOLF) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Friday, December 4th will be given a dividend of $0.2550 per share on Friday, December 18th. This represents a $1.02 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, December 4th.

Acushnet has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 8 years. Acushnet has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $4.11 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 24.8%.

Acushnet Stock Down 1.6%

GOLF opened at $86.00 on Thursday. The business’s fifty day simple moving average is $83.32 and its 200 day simple moving average is $94.13. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01. Acushnet has a 52 week low of $76.14 and a 52 week high of $119.65. The firm has a market cap of $5.02 billion, a P/E ratio of 23.43 and a beta of 0.77.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, November 4th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.15). Acushnet had a return on equity of 27.98% and a net margin of 8.12%. The company had revenue of $649.23 million during the quarter, compared to analysts’ expectations of $647.99 million. During the same period in the previous year, the company earned $0.81 EPS. Acushnet’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that Acushnet will post 4.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on GOLF. Stephens reduced their price objective on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Weiss Ratings cut shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. Finally, Roth Capital restated a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $96.57.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and performance-wear company headquartered in Fairhaven, Massachusetts. Through a portfolio of recognized brands, the company develops, manufactures and markets products used by golfers and golf facilities worldwide.

Its principal brands include Titleist, which offers golf balls, clubs, golf bags, gloves and accessories; FootJoy, which specializes in golf footwear, apparel and gloves; Scotty Cameron, known for premium putters and related accessories; and KJUS, which produces high-performance golf and outdoor apparel.