FBR & Co Weighs in on Callaway Golf Co.’s Q1 2017 Earnings (ELY)
Callaway Golf Co. (NYSE:ELY) – Equities research analysts at FBR & Co issued their Q1 2017 earnings per share estimates for Callaway Golf in a research report issued to clients and investors on Wednesday. FBR & Co analyst S. Anderson expects that the brokerage will post earnings of $0.30 per share for the quarter. FBR & Co currently has a “Outperform” rating and a $12.00 price target on the stock. FBR & Co also issued estimates for Callaway Golf’s Q2 2017 earnings at $0.19 EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at $0.34 EPS and FY2018 earnings at $0.39 EPS.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. Callaway Golf had a net margin of 4.53% and a return on equity of 8.69%. The company had revenue of $245.60 million for the quarter, compared to analyst estimates of $242.49 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year.
Other equities analysts have also issued reports about the company. TheStreet upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating and issued a $14.00 price objective on shares of Callaway Golf in a research report on Thursday, July 28th. Forward View reiterated a “buy” rating on shares of Callaway Golf in a research report on Sunday, July 24th. Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Callaway Golf in a research report on Thursday, June 30th. Finally, DA Davidson set a $14.00 price objective on Callaway Golf and gave the company a “buy” rating in a research report on Monday, August 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Callaway Golf presently has a consensus rating of “Buy” and an average price target of $13.29.
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Callaway Golf (NYSE:ELY) traded down 1.70% during trading on Thursday, hitting $11.01. 574,562 shares of the stock were exchanged. The firm’s 50 day moving average price is $11.46 and its 200-day moving average price is $10.40. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 27.87 and a beta of 1.30. Callaway Golf has a 1-year low of $8.00 and a 1-year high of $11.90.
A number of large investors have recently bought and sold shares of the stock. Profund Advisors LLC boosted its stake in Callaway Golf by 1.3% in the second quarter. Profund Advisors LLC now owns 19,089 shares of the company’s stock worth $195,000 after buying an additional 251 shares during the period. Capstone Asset Management Co. boosted its stake in Callaway Golf by 1.4% in the third quarter. Capstone Asset Management Co. now owns 25,410 shares of the company’s stock worth $295,000 after buying an additional 340 shares during the period. Ngam Advisors L.P. boosted its stake in Callaway Golf by 1.1% in the second quarter. Ngam Advisors L.P. now owns 42,393 shares of the company’s stock worth $433,000 after buying an additional 443 shares during the period. PineBridge Investments L.P. boosted its stake in Callaway Golf by 4.0% in the second quarter. PineBridge Investments L.P. now owns 11,914 shares of the company’s stock worth $121,000 after buying an additional 457 shares during the period. Finally, Legal & General Group Plc boosted its stake in Callaway Golf by 5.5% in the second quarter. Legal & General Group Plc now owns 13,698 shares of the company’s stock worth $138,000 after buying an additional 711 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Tuesday, August 23rd. Callaway Golf’s dividend payout ratio (DPR) is presently 10.26%.
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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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