Acushnet Holdings Corp. (NYSE:GOLF) to Issue Dividend Increase – $0.24 Per Share

Acushnet Holdings Corp. (NYSE:GOLF) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders 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 is Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22.

Acushnet has increased its dividend by an average of 9.2% annually over the last three years. Acushnet has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE GOLF traded down $0.59 during trading on Friday, reaching $64.29. 582,181 shares of the company traded hands, compared to its average volume of 551,982. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $69.06 and a 200-day simple moving average of $67.60. Acushnet has a 52-week low of $58.54 and a 52-week high of $76.65. The stock has a market capitalization of $3.91 billion, a PE ratio of 21.87 and a beta of 0.86.

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

Analyst Ratings Changes

GOLF has been the topic of a number of recent research reports. KeyCorp lowered their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial increased their price objective on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and cut their target price for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.00.

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.