Equities analysts predict that Callaway Golf Co (NYSE:ELY) will announce $428.65 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Callaway Golf’s earnings. The highest sales estimate is $432.80 million and the lowest is $423.60 million. Callaway Golf reported sales of $396.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The company is expected to issue its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Callaway Golf will report full-year sales of $1.69 billion for the current financial year, with estimates ranging from $1.68 billion to $1.70 billion. For the next financial year, analysts expect that the firm will report sales of $1.77 billion, with estimates ranging from $1.72 billion to $1.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Callaway Golf.
Callaway Golf (NYSE:ELY) last announced its earnings results on Thursday, May 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The firm had revenue of $516.20 million for the quarter, compared to analysts’ expectations of $504.07 million. During the same period in the prior year, the company earned $0.65 EPS. The business’s revenue was up 28.0% compared to the same quarter last year.
A number of analysts recently weighed in on ELY shares. Berenberg Bank reissued a “buy” rating and issued a $24.00 price objective on shares of Callaway Golf in a research report on Thursday, February 28th. Zacks Investment Research raised shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. ValuEngine lowered shares of Callaway Golf from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Finally, Roth Capital set a $19.00 price objective on shares of Callaway Golf and gave the stock a “hold” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Callaway Golf presently has a consensus rating of “Buy” and an average target price of $23.09.
Callaway Golf stock traded down $0.13 during midday trading on Monday, reaching $18.06. The stock had a trading volume of 1,460,432 shares, compared to its average volume of 2,017,124. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85. Callaway Golf has a 52-week low of $14.44 and a 52-week high of $24.67. The firm has a market capitalization of $1.71 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 0.70 and a beta of 1.19.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. Callaway Golf’s dividend payout ratio is currently 3.74%.
In other Callaway Golf news, Director Russell L. Fleischer acquired 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $73,750.00. Following the completion of the purchase, the director now owns 15,859 shares in the company, valued at $233,920.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Oliver G. Brewer III acquired 10,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $15.14 per share, for a total transaction of $151,400.00. The disclosure for this purchase can be found here. Insiders acquired a total of 21,575 shares of company stock worth $324,630 over the last 90 days. Insiders own 1.97% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. purchased a new position in shares of Callaway Golf during the first quarter worth $33,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of Callaway Golf during the fourth quarter worth approximately $34,000. Valeo Financial Advisors LLC acquired a new position in Callaway Golf in the first quarter worth $47,000. Massey Quick Simon & CO. LLC boosted its holdings in Callaway Golf by 30.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock worth $49,000 after purchasing an additional 714 shares during the period. Finally, Pearl River Capital LLC acquired a new position in Callaway Golf in the fourth quarter worth $74,000. Hedge funds and other institutional investors own 89.50% of the company’s stock.
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. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.
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