Acushnet Holdings Corp. (NYSE:GOLF) Raises Dividend to $0.24 Per Share

Acushnet Holdings Corp. (NYSE:GOLF) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, March 7th will be paid a dividend of 0.235 per share on Friday, March 21st. This represents a $0.94 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.22.

Acushnet has increased its dividend by an average of 9.2% per year over the last three years. Acushnet has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Acushnet to earn $3.35 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 25.7%.

Acushnet Stock Performance

GOLF opened at $64.29 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.87 and a beta of 0.86. The business’s 50-day moving average price is $69.06 and its two-hundred day moving average price is $67.60. Acushnet has a 1 year low of $58.54 and a 1 year high of $76.65.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Equities analysts expect that Acushnet will post 3.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Truist Financial increased their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Friday. Finally, KeyCorp cut their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.00.

Acushnet Company Profile

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.