Wall Street analysts forecast that Callaway Golf Co (NYSE:ELY) will announce sales of $174.78 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Callaway Golf’s earnings. The lowest sales estimate is $170.90 million and the highest is $178.90 million. Callaway Golf posted sales of $191.66 million in the same quarter last year, which suggests a negative year-over-year growth rate of 8.8%. The business is scheduled to issue its next earnings report on Wednesday, February 6th.

On average, analysts expect that Callaway Golf will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.22 billion to $1.25 billion. For the next year, analysts anticipate that the business will report sales of $1.28 billion, with estimates ranging from $1.25 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Callaway Golf.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, October 24th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09. The business had revenue of $262.65 million during the quarter, compared to analyst estimates of $250.83 million. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%.

Several brokerages have commented on ELY. Cowen raised their price objective on Callaway Golf from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Friday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating and set a $27.00 price objective on shares of Callaway Golf in a research report on Thursday, September 27th. Imperial Capital raised their price objective on Callaway Golf from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Compass Point set a $20.00 price objective on Callaway Golf and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, SunTrust Banks reissued a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a research report on Friday, August 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.55.

In other news, VP Mark F. Leposky sold 21,767 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $21.74, for a total transaction of $473,214.58. Following the completion of the transaction, the vice president now directly owns 140,499 shares in the company, valued at $3,054,448.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.59% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of ELY. Itau Unibanco Holding S.A. bought a new position in shares of Callaway Golf during the second quarter valued at $135,000. Brown Advisory Inc. bought a new position in shares of Callaway Golf during the first quarter valued at $173,000. Everence Capital Management Inc. bought a new position in shares of Callaway Golf during the third quarter valued at $211,000. NumerixS Investment Technologies Inc increased its holdings in shares of Callaway Golf by 348.0% during the second quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock valued at $215,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Callaway Golf during the second quarter valued at $227,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Callaway Golf stock traded up $0.31 on Friday, hitting $21.83. 1,861,383 shares of the stock traded hands, compared to its average volume of 1,225,868. The company has a current ratio of 2.28, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.06 billion, a P/E ratio of 41.19, a P/E/G ratio of 0.83 and a beta of 1.04. Callaway Golf has a 1 year low of $13.49 and a 1 year high of $24.67.

Callaway Golf Company Profile

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.

See Also: What does earnings per share mean?

Get a free copy of the Zacks research report on Callaway Golf (ELY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.