Analysts Expect Callaway Golf Co (ELY) Will Post Quarterly Sales of $176.44 Million

Wall Street brokerages expect that Callaway Golf Co (NYSE:ELY) will report sales of $176.44 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Callaway Golf’s earnings. The highest sales estimate is $186.00 million and the lowest is $172.20 million. Callaway Golf reported sales of $191.66 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.9%. The firm is expected to report its next earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Callaway Golf will report full-year sales of $1.24 billion for the current year, with estimates ranging from $1.23 billion to $1.25 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.29 billion, with estimates ranging from $1.27 billion to $1.33 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Callaway Golf.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. The business had revenue of $262.65 million for the quarter, compared to the consensus estimate of $250.83 million.

ELY has been the topic of a number of research analyst reports. ValuEngine downgraded Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Jefferies Financial Group reiterated a “buy” rating and set a $26.00 price target on shares of Callaway Golf in a report on Monday, October 29th. B. Riley set a $30.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Sunday, December 2nd. Cowen lifted their price target on Callaway Golf from $21.00 to $24.00 and gave the company a “hold” rating in a report on Friday, September 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $27.00 price target on shares of Callaway Golf in a report on Thursday, September 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.91.

Shares of ELY stock opened at $16.60 on Friday. Callaway Golf has a 1-year low of $13.49 and a 1-year high of $24.67. The company has a current ratio of 2.28, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.58 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 0.64 and a beta of 1.03.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. Callaway Golf’s payout ratio is 7.55%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Callaway Golf by 35.7% during the third quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after purchasing an additional 1,929,680 shares during the last quarter. Morgan Stanley boosted its position in Callaway Golf by 58.0% during the third quarter. Morgan Stanley now owns 1,296,455 shares of the company’s stock valued at $31,491,000 after purchasing an additional 475,786 shares during the last quarter. Legal & General Group Plc boosted its position in Callaway Golf by 2.4% during the third quarter. Legal & General Group Plc now owns 211,084 shares of the company’s stock valued at $5,118,000 after purchasing an additional 4,925 shares during the last quarter. Kepos Capital LP acquired a new stake in Callaway Golf during the third quarter valued at $2,177,000. Finally, Teachers Advisors LLC boosted its position in Callaway Golf by 3.0% during the third quarter. Teachers Advisors LLC now owns 1,081,862 shares of the company’s stock valued at $26,278,000 after purchasing an additional 31,155 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

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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