Callaway Golf (ELY) Expected to Announce Earnings of $0.51 Per Share

Equities analysts forecast that Callaway Golf (NYSE:ELY) will report earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Callaway Golf’s earnings. The lowest EPS estimate is $0.49 and the highest is $0.52. Callaway Golf reported earnings per share of $0.30 during the same quarter last year, which would suggest a positive year-over-year growth rate of 70%. The company is expected to report its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that Callaway Golf will report full-year earnings of $0.70 per share for the current year, with EPS estimates ranging from $0.65 to $0.75. For the next year, analysts anticipate that the business will report earnings of $0.79 per share, with EPS estimates ranging from $0.71 to $0.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Callaway Golf.

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Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The business had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share.



Several equities analysts have recently weighed in on the stock. DA Davidson downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.71 to $19.00 in a research note on Wednesday. They noted that the move was a valuation call. ValuEngine raised shares of Callaway Golf from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, March 13th. TheStreet raised shares of Callaway Golf from a “c+” rating to a “b” rating in a research note on Wednesday, February 14th. Finally, Jefferies Group reissued a “buy” rating and issued a $21.00 price target on shares of Callaway Golf in a research note on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.74.

In other Callaway Golf news, insider Neil Howie sold 68,824 shares of Callaway Golf stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $15.76, for a total transaction of $1,084,666.24. Following the completion of the sale, the insider now directly owns 133,001 shares in the company, valued at $2,096,095.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brian P. Lynch sold 25,911 shares of Callaway Golf stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the sale, the senior vice president now owns 31,599 shares of the company’s stock, valued at $468,929.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,409 shares of company stock valued at $3,783,462. 2.59% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ELY. Allianz Asset Management GmbH increased its position in shares of Callaway Golf by 4,685.0% during the fourth quarter. Allianz Asset Management GmbH now owns 602,816 shares of the company’s stock valued at $8,398,000 after acquiring an additional 590,218 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Callaway Golf by 21.9% during the fourth quarter. Glenmede Trust Co. NA now owns 3,195,788 shares of the company’s stock valued at $44,515,000 after acquiring an additional 573,445 shares during the last quarter. Copper Rock Capital Partners LLC increased its position in shares of Callaway Golf by 24.9% during the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after acquiring an additional 483,441 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Callaway Golf during the fourth quarter valued at about $5,760,000. Finally, BlackRock Inc. increased its position in shares of Callaway Golf by 3.0% during the fourth quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after acquiring an additional 351,863 shares during the last quarter. Institutional investors and hedge funds own 88.97% of the company’s stock.

Shares of NYSE:ELY traded up $0.02 during midday trading on Friday, hitting $16.48. The company’s stock had a trading volume of 968,595 shares, compared to its average volume of 946,225. The company has a current ratio of 1.48, a quick ratio of 0.65 and a debt-to-equity ratio of 0.02. The company has a market cap of $1,551.01, a P/E ratio of 31.09, a P/E/G ratio of 1.57 and a beta of 1.03. Callaway Golf has a 12-month low of $11.19 and a 12-month high of $17.75.

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

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