Callaway Golf (NYSE:ELY) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.44-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.36. The company issued revenue guidance of $365-375 million, compared to the consensus revenue estimate of $320.57 million.Callaway Golf also updated its FY18 guidance to $0.77-0.82 EPS.
A number of equities analysts have commented on the stock. Roth Capital set a $19.00 target price on shares of Callaway Golf and gave the stock a buy rating in a report on Tuesday. DA Davidson downgraded shares of Callaway Golf from a buy rating to a neutral rating and boosted their target price for the stock from $17.71 to $19.00 in a report on Wednesday, April 18th. They noted that the move was a valuation call. ValuEngine upgraded shares of Callaway Golf from a buy rating to a strong-buy rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of Callaway Golf from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Tuesday, March 13th. Finally, TheStreet upgraded Callaway Golf from a c+ rating to a b rating in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $16.89.
Shares of ELY stock traded up $0.10 during trading hours on Thursday, reaching $16.80. 882,243 shares of the company’s stock were exchanged, compared to its average volume of 946,524. Callaway Golf has a 1 year low of $11.74 and a 1 year high of $17.75. The firm has a market capitalization of $1,584.13, a price-to-earnings ratio of 31.51, a PEG ratio of 1.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, topping 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 business had revenue of $192.00 million for the quarter, compared to analyst estimates of $184.74 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. equities analysts forecast that Callaway Golf will post 0.7 earnings per share for the current year.
In related news, insider Neil Howie sold 24,838 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $15.75, for a total value of $391,198.50. Following the sale, the insider now owns 95,803 shares in the company, valued at $1,508,897.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Oliver G. Brewer III sold 25,721 shares of the company’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $17.00, for a total value of $437,257.00. Following the completion of the sale, the insider now owns 382,316 shares in the company, valued at approximately $6,499,372. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,409 shares of company stock worth $3,783,462. 2.59% of the stock is owned by insiders.
About Callaway Golf
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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