-$0.18 Earnings Per Share Expected for Callaway Golf Co (ELY) This Quarter

Wall Street brokerages forecast that Callaway Golf Co (NYSE:ELY) will post earnings per share (EPS) of ($0.18) for the current quarter, according to Zacks. Ten analysts have provided estimates for Callaway Golf’s earnings. The lowest EPS estimate is ($0.20) and the highest is ($0.14). Callaway Golf also posted earnings of ($0.18) per share during the same quarter last year. The firm is expected to issue its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that Callaway Golf will report full-year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.50 to $0.55. For the next financial year, analysts expect that the business will post earnings of $0.59 per share, with EPS estimates ranging from $0.52 to $0.72. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Callaway Golf.

Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 29.7% on a year-over-year basis.

Several research firms have recently weighed in on ELY. Compass Point downgraded shares of Callaway Golf from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $15.06 to $13.50 in a research report on Wednesday, December 27th. DA Davidson set a $18.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Forward View reissued a “hold” rating on shares of Callaway Golf in a research report on Saturday, October 28th. Finally, KeyCorp set a $16.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Callaway Golf presently has an average rating of “Buy” and a consensus target price of $15.82.

In related news, Director Anthony S. Thornley sold 7,000 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian P. Lynch sold 6,277 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total transaction of $96,791.34. Following the transaction, the senior vice president now directly owns 46,184 shares in the company, valued at $712,157.28. The disclosure for this sale can be found here. Insiders have sold 46,588 shares of company stock worth $694,031 over the last ninety days. 2.59% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ELY. Daruma Capital Management LLC purchased a new position in Callaway Golf during the second quarter valued at approximately $48,831,000. Cramer Rosenthal Mcglynn LLC purchased a new position in Callaway Golf during the second quarter valued at approximately $10,707,000. Dimensional Fund Advisors LP grew its position in 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 purchasing an additional 603,742 shares in the last quarter. Copper Rock Capital Partners LLC grew its position in Callaway Golf by 24.9% during the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after purchasing an additional 483,441 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Callaway Golf by 165.2% during the second quarter. New York State Common Retirement Fund now owns 333,367 shares of the company’s stock valued at $4,260,000 after purchasing an additional 207,658 shares in the last quarter. 88.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Callaway Golf (NYSE ELY) opened at $14.21 on Thursday. Callaway Golf has a fifty-two week low of $9.93 and a fifty-two week high of $15.63. The company has a market cap of $1,304.60, a P/E ratio of 7.44, a P/E/G ratio of 1.55 and a beta of 1.12.

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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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