Callaway Golf Co (NYSE:ELY) – Analysts at SunTrust Banks reduced their Q3 2019 earnings estimates for shares of Callaway Golf in a research report issued to clients and investors on Thursday, August 8th. SunTrust Banks analyst M. Swartz now expects that the company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.32. SunTrust Banks also issued estimates for Callaway Golf’s FY2019 earnings at $1.08 EPS, Q3 2020 earnings at $0.28 EPS, FY2020 earnings at $1.25 EPS and FY2021 earnings at $1.42 EPS.

ELY has been the subject of a number of other reports. Berenberg Bank reissued a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a research report on Sunday, May 12th. B. Riley set a $30.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised Callaway Golf from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 12th. ValuEngine cut Callaway Golf from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Roth Capital set a $19.00 target price on Callaway Golf and gave the stock a “hold” rating in a research note on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.28.

Shares of Callaway Golf stock opened at $18.43 on Monday. Callaway Golf has a one year low of $14.44 and a one year high of $24.67. The firm has a market capitalization of $1.74 billion, a P/E ratio of 17.22, a PEG ratio of 0.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.85 and a current ratio of 1.59. The stock’s 50-day moving average is $17.97.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.12. Callaway Golf had a net margin of 4.17% and a return on equity of 10.00%. The company had revenue of $446.71 million during the quarter, compared to analyst estimates of $430.12 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation N.A. purchased a new stake in Callaway Golf in the first quarter valued at approximately $33,000. FNY Investment Advisers LLC purchased a new stake in Callaway Golf in the second quarter valued at approximately $34,000. Nisa Investment Advisors LLC purchased a new stake in Callaway Golf in the second quarter valued at approximately $34,000. Valeo Financial Advisors LLC purchased a new stake in Callaway Golf in the first quarter valued at approximately $47,000. Finally, Massey Quick Simon & CO. LLC lifted its stake 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 valued at $49,000 after buying an additional 714 shares during the last quarter. Institutional investors own 88.86% of the company’s stock.

In related news, EVP Richard H. Arnett sold 13,137 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $20.00, for a total transaction of $262,740.00. Following the completion of the sale, the executive vice president now owns 31,276 shares in the company, valued at $625,520. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Oliver G. Brewer III bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $15.14 per share, with a total value of $151,400.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 21,575 shares of company stock valued at $324,630. 1.97% of the stock is owned by company insiders.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Monday, August 12th. Callaway Golf’s payout ratio is 3.74%.

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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Earnings History and Estimates for Callaway Golf (NYSE:ELY)

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