Equities research analysts expect Callaway Golf Company (NYSE:ELY) to report $181.28 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Callaway Golf’s earnings, with the lowest sales estimate coming in at $174.58 million and the highest estimate coming in at $191.00 million. Callaway Golf posted sales of $163.70 million during the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The business is expected to report its next earnings report on Thursday, February 1st.
On average, analysts expect that Callaway Golf will report full-year sales of $181.28 million for the current fiscal year, with estimates ranging from $1.03 billion to $1.05 billion. For the next year, analysts forecast that the firm will report sales of $1.10 billion per share, with estimates ranging from $1.06 billion to $1.16 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Callaway Golf.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The company had revenue of $243.60 million during the quarter, compared to analyst estimates of $209.52 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year.
ELY has been the subject of several research reports. Jefferies Group set a $18.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Friday, August 4th. Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 target price for the company. in a research report on Saturday, August 5th. Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their target price for the stock from $13.60 to $13.75 in a research report on Monday, August 7th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Monday, August 7th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $16.00 target price (up from $14.50) on shares of Callaway Golf in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Callaway Golf has an average rating of “Buy” and an average price target of $15.67.
In other news, SVP Richard H. Arnett sold 8,070 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.01, for a total transaction of $113,060.70. Following the completion of the transaction, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at $70,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony S. Thornley sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $14.40, for a total transaction of $100,800.00. Following the transaction, the director now directly owns 47,034 shares of the company’s stock, valued at $677,289.60. The disclosure for this sale can be found here. Insiders sold 80,890 shares of company stock valued at $1,150,397 over the last three months. 2.59% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Scott & Selber Inc. raised its stake in shares of Callaway Golf by 91.7% during the second quarter. Scott & Selber Inc. now owns 244,133 shares of the company’s stock valued at $3,120,000 after acquiring an additional 116,786 shares during the last quarter. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Callaway Golf during the second quarter valued at about $10,707,000. Dimensional Fund Advisors LP raised its stake in shares of Callaway Golf by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,392,982 shares of the company’s stock valued at $81,702,000 after acquiring an additional 603,742 shares during the last quarter. Daruma Capital Management LLC bought a new position in shares of Callaway Golf during the second quarter valued at about $48,831,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Callaway Golf by 77.9% during the second quarter. State of Alaska Department of Revenue now owns 18,572 shares of the company’s stock valued at $237,000 after acquiring an additional 8,132 shares during the last quarter. 88.21% of the stock is owned by hedge funds and other institutional investors.
Callaway Golf (NYSE ELY) opened at $14.42 on Wednesday. Callaway Golf has a 1 year low of $9.93 and a 1 year high of $15.63. The stock has a market cap of $1,354.71, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.87 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date is Tuesday, November 21st. Callaway Golf’s dividend payout ratio is presently 2.09%.
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About Callaway Golf
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.
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