Callaway Golf Company (ELY) Expected to Post Earnings of -$0.07 Per Share
Wall Street brokerages forecast that Callaway Golf Company (NYSE:ELY) will post ($0.07) earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Callaway Golf’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.09). Callaway Golf posted earnings of ($0.06) per share in the same quarter last year, which would indicate a negative year over year growth rate of 16.7%. The company is scheduled to announce its next earnings report on Thursday, November 2nd.
On average, analysts expect that Callaway Golf will report full-year earnings of $0.45 per share for the current year, with EPS estimates ranging from $0.45 to $0.46. For the next year, analysts anticipate that the firm will report earnings of $0.46 per share, with EPS estimates ranging from $0.37 to $0.57. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Callaway Golf.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The business had revenue of $304.50 million for the quarter, compared to the consensus estimate of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.85%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share.
Several brokerages have commented on ELY. Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 target price on the stock. in a research report on Saturday. Jefferies Group LLC set a $18.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research lowered shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, FBR & Co boosted their target price on shares of Callaway Golf from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.42.
ILLEGAL ACTIVITY WARNING: “Callaway Golf Company (ELY) Expected to Post Earnings of -$0.07 Per Share” was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/06/callaway-golf-company-ely-expected-to-post-earnings-of-0-07-per-share.html.
In other Callaway Golf news, SVP Richard H. Arnett sold 30,204 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $12.68, for a total value of $382,986.72. Following the transaction, the senior vice president now directly owns 13,070 shares in the company, valued at approximately $165,727.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Oliver G. Brewer III sold 131,884 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the completion of the transaction, the insider now owns 291,399 shares in the company, valued at $3,878,520.69. The disclosure for this sale can be found here. Insiders sold a total of 266,993 shares of company stock worth $3,520,302 over the last quarter. Insiders own 2.59% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in Callaway Golf by 6.7% in the first quarter. Wells Fargo & Company MN now owns 1,272,874 shares of the company’s stock worth $14,090,000 after buying an additional 79,764 shares during the period. Essex Investment Management Co. LLC raised its position in Callaway Golf by 24.9% in the first quarter. Essex Investment Management Co. LLC now owns 122,861 shares of the company’s stock worth $1,360,000 after buying an additional 24,524 shares during the period. Punch & Associates Investment Management Inc. raised its position in Callaway Golf by 2.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,209,808 shares of the company’s stock worth $13,393,000 after buying an additional 24,236 shares during the period. Scott & Selber Inc. purchased a new position in Callaway Golf during the first quarter worth about $1,410,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Callaway Golf during the first quarter worth about $169,000. Institutional investors own 86.26% of the company’s stock.
Callaway Golf (NYSE:ELY) traded up 8.26% during trading on Friday, reaching $13.50. 3,842,350 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $12.56 and its 200-day moving average price is $11.80. The stock has a market cap of $1.27 billion, a P/E ratio of 7.30 and a beta of 1.20. Callaway Golf has a one year low of $9.77 and a one year high of $13.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. Callaway Golf’s dividend payout ratio is presently 2.20%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Callaway Golf Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf Company and related companies with MarketBeat.com's FREE daily email newsletter.