Wall Street brokerages predict that Callaway Golf (NYSE:ELY) will announce earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Callaway Golf’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.49. Callaway Golf reported earnings per share of $0.30 during the same quarter last year, which would suggest a positive year-over-year growth rate of 70%. The firm is expected to report its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Callaway Golf will report full-year earnings of $0.70 per share for the current year, with EPS estimates ranging from $0.65 to $0.75. For the next year, analysts anticipate that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.71 to $0.85. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Callaway Golf.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $184.74 million. During the same period last year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year.
A number of research firms have recently weighed in on ELY. Zacks Investment Research lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Roth Capital set a $17.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Monday, February 5th. Compass Point upgraded shares of Callaway Golf from a “sell” rating to a “neutral” rating and increased their target price for the stock from $13.50 to $14.59 in a report on Wednesday, February 7th. KeyCorp increased their target price on shares of Callaway Golf from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, ValuEngine upgraded shares of Callaway Golf from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Callaway Golf presently has a consensus rating of “Buy” and an average price target of $16.74.
In other Callaway Golf news, SVP Brian P. Lynch sold 25,911 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $14.84, for a total value of $384,519.24. Following the completion of the sale, the senior vice president now directly owns 31,599 shares in the company, valued at $468,929.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard H. Arnett sold 7,241 shares of the firm’s stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $17.00, for a total transaction of $123,097.00. Following the completion of the sale, the senior vice president now owns 12,229 shares of the company’s stock, valued at $207,893. The disclosure for this sale can be found here. Insiders sold 237,409 shares of company stock valued at $3,783,462 over the last 90 days. 2.59% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ELY. Allianz Asset Management GmbH lifted its holdings in Callaway Golf by 4,685.0% in the fourth quarter. Allianz Asset Management GmbH now owns 602,816 shares of the company’s stock worth $8,398,000 after buying an additional 590,218 shares during the period. Glenmede Trust Co. NA lifted its holdings in Callaway Golf by 21.9% in the fourth quarter. Glenmede Trust Co. NA now owns 3,195,788 shares of the company’s stock worth $44,515,000 after buying an additional 573,445 shares during the period. Copper Rock Capital Partners LLC lifted its holdings in Callaway Golf by 24.9% in the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock worth $34,117,000 after buying an additional 483,441 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Callaway Golf in the fourth quarter worth about $5,760,000. Finally, BlackRock Inc. lifted its holdings in Callaway Golf by 3.0% in the fourth quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock worth $168,135,000 after buying an additional 351,863 shares during the period. Institutional investors and hedge funds own 88.97% of the company’s stock.
Shares of Callaway Golf stock traded up $0.02 during trading on Friday, reaching $16.48. 968,595 shares of the stock were exchanged, compared to its average volume of 946,225. The company has a current ratio of 1.48, a quick ratio of 0.65 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1,551.01, a P/E ratio of 31.09, a P/E/G ratio of 1.57 and a beta of 1.03. Callaway Golf has a 1 year low of $11.19 and a 1 year high of $17.75.
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Callaway Golf Company Profile
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.
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