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

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, March 7th will be given a dividend of 0.235 per share on Friday, March 21st. This represents a $0.94 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22.

Acushnet has raised its dividend payment by an average of 9.2% per year over the last three years. Acushnet has a dividend payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Acushnet to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 28.1%.

Acushnet Price Performance

Shares of Acushnet stock traded up $0.70 during trading hours on Tuesday, reaching $64.82. The company's stock had a trading volume of 547,463 shares, compared to its average volume of 337,798. The firm has a 50 day moving average price of $68.82 and a 200-day moving average price of $67.59. Acushnet has a one year low of $58.54 and a one year high of $76.65. 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 stock has a market cap of $3.94 billion, a P/E ratio of 22.05 and a beta of 0.86.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion for 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%. On average, analysts predict that Acushnet will post 3.06 EPS for the current year.

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Analyst Ratings Changes

GOLF has been the subject of several research reports. KeyCorp lowered their price objective on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday. Truist Financial boosted their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $77.00 to $80.00 in a research report on Tuesday. StockNews.com raised shares of Acushnet from a "hold" rating to a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. cut shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective 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 issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and a consensus price target of $72.80.

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.