Acushnet (GOLF) Stock Falls By 5%: What’s Next?

During the last 5 days, the stock worth of Acushnet Holdings has been decreasing. The stock price has reached its lowest point at $53 for today, while its peak was at $56. Furthermore, the company has announced the second-quarter report, where the quarterly earnings made up $1.08 per stock, while the analysts’ estimates were $0.77. This compares to earnings of $0.03 per share a year ago.

Acushnet has surpassed consensus EPS estimates four times during the last four quarters. The company posted total revenues for the amount of $624.85 million for the quarter ended June 2021, beating the experts’ estimate by 16.86%. For comparison, a year ago, revenue was $ 300 million.

Acushnet shares have added about 32% since the beginning of the year versus the S&P 500’s gain of 17.2%. The current estimates for the upcoming quarters are $0.15 on $404.86 million in revenues for the coming quarter and $2.01 on $1.86 billion in revenues for the current fiscal year. However, investors should keep in mind that the outlook for the industry can also have a significant impact on stock returns.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.