-$0.18 Earnings Per Share Expected for Callaway Golf Company (ELY) This Quarter
Brokerages expect Callaway Golf Company (NYSE:ELY) to post ($0.18) earnings per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Callaway Golf’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.14). Callaway Golf also reported earnings per share of ($0.18) in the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that Callaway Golf will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.48 to $0.55. For the next year, analysts anticipate that the business will post earnings of $0.58 per share, with EPS estimates ranging from $0.52 to $0.68. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.09. The business had revenue of $243.60 million for the quarter, compared to analyst estimates of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share.
A number of analysts recently weighed in on the company. B. Riley restated a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Forward View restated a “hold” rating on shares of Callaway Golf in a research note on Saturday, October 28th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Friday, October 27th. Jefferies Group LLC set a $19.00 price target on Callaway Golf and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, SunTrust Banks, Inc. lifted their price target on Callaway Golf from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $15.67.
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In other news, SVP Brian P. Lynch sold 6,277 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $15.42, for a total value of $96,791.34. Following the sale, the senior vice president now directly owns 46,184 shares in the company, valued at $712,157.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Alan Hocknell sold 41,051 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $13.75, for a total value of $564,451.25. Following the completion of the transaction, the senior vice president now owns 73,227 shares of the company’s stock, valued at $1,006,871.25. The disclosure for this sale can be found here. Insiders sold 113,871 shares of company stock worth $1,601,788 over the last 90 days. Company insiders own 2.59% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ELY. Riverhead Capital Management LLC increased its stake in Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after purchasing an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Callaway Golf in the second quarter valued at $109,000. Flinton Capital Management LLC increased its stake in Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after purchasing an additional 4,726 shares during the last quarter. Amalgamated Bank increased its stake in Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after purchasing an additional 160 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Callaway Golf in the second quarter valued at $194,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.
Callaway Golf (ELY) traded up $0.27 during trading hours on Wednesday, hitting $13.99. The stock had a trading volume of 714,441 shares, compared to its average volume of 817,303. The firm has a market capitalization of $1,337.25, a price-to-earnings ratio of 27.78, a P/E/G ratio of 1.85 and a beta of 1.10. Callaway Golf has a 1-year low of $9.93 and a 1-year high of $15.63.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 22nd will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.29%. Callaway Golf’s dividend payout ratio is currently 2.09%.
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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