Acushnet (NYSE:GOLF) Issues Quarterly Earnings Results

Acushnet (NYSE:GOLFGet Free Report) announced its quarterly earnings data on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10, Briefing.com reports. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same period last year, the firm posted $0.85 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Acushnet updated its FY 2024 guidance to EPS.

Acushnet Trading Up 1.1 %

GOLF traded up $0.80 during trading on Friday, reaching $71.81. The company had a trading volume of 217,925 shares, compared to its average volume of 313,326. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. Acushnet has a 52 week low of $53.68 and a 52 week high of $76.38. The stock has a market cap of $4.44 billion, a P/E ratio of 24.31 and a beta of 0.85. The business has a 50 day simple moving average of $63.62 and a 200-day simple moving average of $64.63.

Wall Street Analyst Weigh In

Several analysts have commented on GOLF shares. Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial increased their price target on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday. Finally, Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Acushnet currently has a consensus rating of “Hold” and an average target price of $71.40.

Check Out Our Latest Analysis on GOLF

Acushnet Company Profile

(Get Free Report)

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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Earnings History for Acushnet (NYSE:GOLF)

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