Research Analysts Issue Forecasts for Callaway Golf Co’s Q2 2017 Earnings (ELY)
Callaway Golf Co (NYSE:ELY) – Analysts at Imperial Capital issued their Q2 2017 earnings per share estimates for Callaway Golf in a report released on Tuesday. Imperial Capital analyst G. Kelly expects that the company will earn $0.27 per share for the quarter. Imperial Capital has a “Outperform” rating and a $14.50 price target on the stock. Imperial Capital also issued estimates for Callaway Golf’s Q3 2017 earnings at ($0.08) EPS, Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at $0.31 EPS and FY2018 earnings at $0.37 EPS.
Other research analysts have also issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research report on Wednesday, March 22nd. Wunderlich reiterated a “buy” rating and set a $13.00 price target (down previously from $15.00) on shares of Callaway Golf in a research report on Monday, February 6th. FBR & Co reiterated a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research report on Friday, February 3rd. DA Davidson reiterated a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research report on Tuesday, January 31st. Finally, Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 31st. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Callaway Golf presently has a consensus rating of “Buy” and a consensus price target of $13.83.
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Shares of Callaway Golf (NYSE:ELY) opened at 12.74 on Thursday. Callaway Golf has a 12-month low of $9.50 and a 12-month high of $13.35. The firm has a 50-day moving average price of $12.16 and a 200-day moving average price of $11.47. The firm has a market cap of $1.20 billion, a P/E ratio of 6.89 and a beta of 1.33.
Callaway Golf (NYSE:ELY) last released its earnings results on Thursday, May 4th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Callaway Golf had a return on equity of 9.93% and a net margin of 21.80%. The company had revenue of $309 million during the quarter, compared to the consensus estimate of $283.68 million. During the same quarter last year, the company earned $0.26 earnings per share. Callaway Golf’s quarterly revenue was up 12.8% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake in shares of Callaway Golf by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 10,440 shares of the company’s stock valued at $115,000 after buying an additional 260 shares during the period. Tudor Investment Corp Et Al purchased a new stake in shares of Callaway Golf during the fourth quarter valued at $149,000. Koch Industries Inc. purchased a new stake in shares of Callaway Golf during the first quarter valued at $162,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Callaway Golf during the first quarter valued at $169,000. Finally, Suntrust Banks Inc. raised its stake in shares of Callaway Golf by 2.5% in the first quarter. Suntrust Banks Inc. now owns 18,036 shares of the company’s stock valued at $199,000 after buying an additional 441 shares during the period. Institutional investors and hedge funds own 85.85% of the company’s stock.
In other news, SVP Alan Hocknell sold 10,759 shares of the company’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $11.60, for a total value of $124,804.40. Following the completion of the sale, the senior vice president now owns 57,907 shares in the company, valued at $671,721.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony S. Thornley sold 10,698 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $12.75, for a total value of $136,399.50. Following the completion of the sale, the director now owns 49,790 shares of the company’s stock, valued at approximately $634,822.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 459,480 shares of company stock valued at $5,340,813. Insiders own 2.10% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 23rd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. Callaway Golf’s dividend payout ratio (DPR) is 2.02%.
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.
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