Wall Street analysts predict that Callaway Golf Co (NYSE:ELY) will report earnings of ($0.23) per share for the current quarter, according to Zacks. Eight analysts have made estimates for Callaway Golf’s earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.27). Callaway Golf posted earnings per share of ($0.32) in the same quarter last year, which indicates a positive year-over-year growth rate of 28.1%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 5th.
On average, analysts expect that Callaway Golf will report full-year earnings of $1.11 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.13. For the next fiscal year, analysts expect that the company will report earnings of $1.21 per share, with EPS estimates ranging from $1.14 to $1.35. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Callaway Golf.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.13. The company had revenue of $426.00 million for the quarter, compared to analysts’ expectations of $420.43 million. Callaway Golf had a net margin of 5.10% and a return on equity of 13.17%. Callaway Golf’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share.
Several research analysts recently weighed in on ELY shares. B. Riley set a $30.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stephens raised Callaway Golf from an “equal” rating to a “weight” rating and upped their target price for the stock from $18.00 to $21.50 in a research note on Friday, August 9th. Zacks Investment Research lowered Callaway Golf from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Raymond James raised Callaway Golf from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Wednesday, September 11th. Finally, Compass Point set a $21.50 target price on Callaway Golf and gave the stock a “buy” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.78.
Shares of ELY stock remained flat at $$20.29 during trading on Thursday. 570,753 shares of the company traded hands, compared to its average volume of 1,220,648. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.74. The business’s 50 day simple moving average is $20.13 and its 200-day simple moving average is $18.10. The firm has a market cap of $1.91 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 0.73 and a beta of 1.25. Callaway Golf has a one year low of $14.44 and a one year high of $21.54.
Callaway Golf announced that its Board of Directors has initiated a stock buyback program on Thursday, August 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of ELY. Nuveen Asset Management LLC boosted its stake in Callaway Golf by 349.5% in the second quarter. Nuveen Asset Management LLC now owns 806,709 shares of the company’s stock worth $13,843,000 after buying an additional 627,229 shares in the last quarter. Morgan Stanley boosted its stake in shares of Callaway Golf by 184.7% during the second quarter. Morgan Stanley now owns 889,224 shares of the company’s stock valued at $15,259,000 after purchasing an additional 576,838 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Callaway Golf during the second quarter valued at approximately $7,735,000. Copper Rock Capital Partners LLC boosted its stake in shares of Callaway Golf by 33.4% during the second quarter. Copper Rock Capital Partners LLC now owns 1,416,615 shares of the company’s stock valued at $24,309,000 after purchasing an additional 354,426 shares during the period. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Callaway Golf by 29.2% during the second quarter. Rice Hall James & Associates LLC now owns 876,567 shares of the company’s stock valued at $15,042,000 after purchasing an additional 197,927 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.
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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