Callaway Golf Co (ELY) Expected to Post Quarterly Sales of $174.78 Million
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%.
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.
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