Callaway Golf Company (ELY) Expected to Announce Earnings of -$0.05 Per Share
Brokerages expect that Callaway Golf Company (NYSE:ELY) will report earnings of ($0.05) per share for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Callaway Golf’s earnings, with estimates ranging from ($0.09) to ($0.01). Callaway Golf posted earnings of ($0.06) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Callaway Golf will report full year earnings of $0.44 per share for the current year, with EPS estimates ranging from $0.40 to $0.48. For the next year, analysts anticipate that the company will post earnings of $0.51 per share, with EPS estimates ranging from $0.43 to $0.57. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Callaway Golf.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $295.70 million. During the same period in the prior year, the company earned $0.36 EPS. Callaway Golf’s revenue was up 24.0% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Imperial Capital reiterated an “outperform” rating and issued a $16.00 price target (up previously from $14.50) on shares of Callaway Golf in a report on Wednesday, August 9th. Compass Point cut Callaway Golf from a “buy” rating to a “neutral” rating and raised their price target for the company from $13.60 to $13.75 in a report on Monday, August 7th. Forward View cut Callaway Golf to a “hold” rating and set a $14.00 price target on the stock. in a report on Saturday, August 5th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, August 7th. Finally, Jefferies Group LLC set a $18.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $15.31.
Shares of Callaway Golf (NYSE ELY) traded up 1.83% during midday trading on Friday, reaching $14.43. 1,785,885 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $13.38 and a 200-day moving average of $12.44. The company has a market capitalization of $1.36 billion, a PE ratio of 7.98 and a beta of 1.18. Callaway Golf has a 1-year low of $9.77 and a 1-year high of $14.49.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, August 18th. Callaway Golf’s dividend payout ratio (DPR) is currently 2.20%.
In other news, VP Mark F. Leposky sold 31,691 shares of Callaway Golf stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $14.00, for a total transaction of $443,674.00. Following the transaction, the vice president now owns 68,343 shares in the company, valued at approximately $956,802. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alan Hocknell sold 57,138 shares of Callaway Golf stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.30, for a total value of $759,935.40. Following the transaction, the senior vice president now owns 115,045 shares in the company, valued at approximately $1,530,098.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,113 shares of company stock worth $3,792,388. Company insiders own 2.59% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Callaway Golf by 56,247.6% during the 1st quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after purchasing an additional 11,679,804 shares in the last quarter. Scott & Selber Inc. lifted its holdings in shares of Callaway Golf by 91.7% during the 2nd quarter. Scott & Selber Inc. now owns 244,133 shares of the company’s stock valued at $3,120,000 after purchasing an additional 116,786 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Callaway Golf by 6.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 37,917 shares of the company’s stock valued at $419,000 after purchasing an additional 2,261 shares in the last quarter. UBS Group AG lifted its holdings in shares of Callaway Golf by 4.5% during the 1st quarter. UBS Group AG now owns 265,077 shares of the company’s stock valued at $2,934,000 after purchasing an additional 11,350 shares in the last quarter. Finally, Kennedy Capital Management Inc. lifted its holdings in shares of Callaway Golf by 161.1% during the 1st quarter. Kennedy Capital Management Inc. now owns 973,299 shares of the company’s stock valued at $10,774,000 after purchasing an additional 600,557 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.
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Callaway Golf Company Profile
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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