Callaway Golf Co (NYSE:ELY) – Research analysts at SunTrust Banks boosted their Q1 2018 earnings estimates for Callaway Golf in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Swartz now forecasts that the company will earn $0.50 per share for the quarter, up from their previous forecast of $0.38. SunTrust Banks currently has a “Buy” rating and a $17.00 target price on the stock. SunTrust Banks also issued estimates for Callaway Golf’s Q2 2018 earnings at $0.36 EPS, FY2018 earnings at $0.70 EPS and FY2019 earnings at $0.80 EPS.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. Callaway Golf had a net margin of 3.89% and a return on equity of 7.87%. The business had revenue of $192.00 million for the quarter, compared to analyst estimates of $184.74 million. During the same period last year, the firm earned ($0.09) earnings per share. Callaway Golf’s revenue for the quarter was up 17.1% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on ELY. B. Riley reiterated a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Roth Capital set a $17.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Monday, February 5th. Compass Point upgraded shares of Callaway Golf from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $13.50 to $14.59 in a research note on Wednesday. Jefferies Group reiterated a “buy” rating and set a $21.00 price objective on shares of Callaway Golf in a research note on Thursday. Finally, Cowen upgraded shares of Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Callaway Golf has an average rating of “Buy” and an average target price of $16.40.

Shares of Callaway Golf (NYSE ELY) opened at $14.80 on Friday. The stock has a market cap of $1,396.30, a PE ratio of 34.42, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. Callaway Golf has a one year low of $9.99 and a one year high of $15.95.

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Callaway Golf by 9.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 64,530 shares of the company’s stock valued at $899,000 after purchasing an additional 5,821 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Callaway Golf by 3.0% in the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after purchasing an additional 351,863 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Callaway Golf by 11.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock valued at $20,800,000 after purchasing an additional 148,068 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Callaway Golf by 15.5% in the 4th quarter. Rhumbline Advisers now owns 226,822 shares of the company’s stock valued at $3,160,000 after purchasing an additional 30,468 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Callaway Golf by 224.4% in the 4th quarter. Arizona State Retirement System now owns 158,891 shares of the company’s stock valued at $2,213,000 after purchasing an additional 109,909 shares in the last quarter. Institutional investors own 89.58% of the company’s stock.

In other news, insider Neil Howie sold 24,838 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $15.75, for a total value of $391,198.50. Following the sale, the insider now directly owns 95,803 shares in the company, valued at approximately $1,508,897.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brian P. Lynch sold 25,911 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the sale, the senior vice president now owns 31,599 shares in the company, valued at $468,929.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,487 shares of company stock worth $1,031,977. 2.59% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Callaway Golf’s payout ratio is currently 9.30%.

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About Callaway Golf

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.

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

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