SunTrust Banks Weighs in on Acushnet Holdings Corp’s Q1 2019 Earnings (GOLF)
Acushnet Holdings Corp (NYSE:GOLF) – Investment analysts at SunTrust Banks lowered their Q1 2019 earnings estimates for shares of Acushnet in a research report issued on Monday, April 8th. SunTrust Banks analyst M. Swartz now anticipates that the company will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.55. SunTrust Banks also issued estimates for Acushnet’s Q2 2019 earnings at $0.50 EPS, FY2019 earnings at $1.44 EPS and FY2020 earnings at $1.50 EPS.
A number of other equities research analysts have also recently commented on the stock. TheStreet raised shares of Acushnet from a “c+” rating to a “b” rating in a research note on Friday, March 29th. Wells Fargo & Co dropped their price target on shares of Acushnet from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, March 4th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Stephens initiated coverage on shares of Acushnet in a research note on Tuesday, January 8th. They issued an “equal weight” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Acushnet in a research note on Thursday, December 20th. They issued a “hold” rating and a $24.00 price target on the stock. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.32.
Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 28th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Acushnet had a return on equity of 10.99% and a net margin of 6.11%. The business had revenue of $343.36 million during the quarter, compared to analyst estimates of $340.46 million.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.14 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Acushnet’s previous quarterly dividend of $0.13. Acushnet’s dividend payout ratio (DPR) is presently 42.42%.
Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. lifted its holdings in Acushnet by 29.9% in the 4th quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock valued at $42,000 after purchasing an additional 457 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Acushnet by 170.3% in the 4th quarter. Advisors Asset Management Inc. now owns 2,587 shares of the company’s stock valued at $55,000 after purchasing an additional 1,630 shares in the last quarter. Martingale Asset Management L P purchased a new position in Acushnet in the 3rd quarter valued at $217,000. Metropolitan Life Insurance Co. NY lifted its holdings in Acushnet by 327.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,737 shares of the company’s stock valued at $226,000 after purchasing an additional 8,227 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Acushnet by 141.9% in the 3rd quarter. Legal & General Group Plc now owns 13,297 shares of the company’s stock valued at $365,000 after purchasing an additional 7,801 shares in the last quarter. Institutional investors own 50.85% of the company’s stock.
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.
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