Acushnet Holdings Corp. (NYSE:GOLF) Plans $0.22 Quarterly Dividend

Acushnet Holdings Corp. (NYSE:GOLF) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Friday, December 6th will be given a dividend of 0.215 per share on Friday, December 20th. This represents a $0.86 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, December 6th.

Acushnet has increased its dividend by an average of 8.0% annually over the last three years. Acushnet has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 24.8%.

Acushnet Trading Down 0.2 %

NYSE GOLF opened at $73.34 on Wednesday. The stock’s fifty day moving average price is $65.95 and its 200-day moving average price is $65.70. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.46 billion, a P/E ratio of 24.95 and a beta of 0.88. Acushnet has a 12 month low of $56.34 and a 12 month high of $76.38.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million for the quarter, compared to analysts’ expectations of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. As a group, equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on GOLF shares. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Compass Point reduced their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial boosted their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.40.

Insider Activity at Acushnet

In related news, insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 54.60% of the stock is owned by corporate insiders.

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.