Callaway Golf Company (NYSE:ELY) – Research analysts at Jefferies Group upped their FY2017 EPS estimates for shares of Callaway Golf in a research report issued on Friday. Jefferies Group analyst R. Konik now expects that the company will post earnings per share of $0.45 for the year, up from their previous estimate of $0.37. Jefferies Group has a “Buy” rating and a $18.00 price target on the stock. Jefferies Group also issued estimates for Callaway Golf’s Q1 2018 earnings at $0.37 EPS and FY2018 earnings at $0.57 EPS.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. Callaway Golf had a return on equity of 6.60% and a net margin of 18.09%. The firm had revenue of $304.50 million during the quarter, compared to the consensus estimate of $295.70 million. During the same period last year, the business posted $0.36 EPS. The business’s revenue was up 24.0% compared to the same quarter last year.

TRADEMARK VIOLATION NOTICE: This report was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/07/fy2017-eps-estimates-for-callaway-golf-company-increased-by-jefferies-group-ely.html.

A number of other equities analysts have also recently issued reports on ELY. Forward View cut shares of Callaway Golf to a “hold” rating and set a $14.00 price objective on the stock. in a research report on Saturday. FBR & Co set a $14.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Saturday, May 6th. BidaskClub cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Cowen and Company began coverage on shares of Callaway Golf in a research report on Wednesday, June 14th. They issued a “market perform” rating and a $14.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Callaway Golf has a consensus rating of “Buy” and an average price target of $14.42.

Shares of Callaway Golf (NYSE ELY) opened at 13.50 on Monday. The firm’s 50-day moving average price is $12.56 and its 200-day moving average price is $11.80. The firm has a market capitalization of $1.27 billion, a P/E ratio of 7.30 and a beta of 1.20. Callaway Golf has a one year low of $9.77 and a one year high of $13.70.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, August 18th. Callaway Golf’s dividend payout ratio is currently 2.20%.

In related news, insider Neil Howie sold 37,069 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $13.10, for a total transaction of $485,603.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Alan Hocknell sold 57,138 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.30, for a total transaction of $759,935.40. Following the transaction, the senior vice president now owns 115,045 shares in the company, valued at approximately $1,530,098.50. The disclosure for this sale can be found here. Insiders have sold 226,091 shares of company stock worth $3,000,915 in the last quarter. 2.59% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Callaway Golf during the fourth quarter valued at about $12,313,000. BlackRock Inc. boosted its position in shares of Callaway Golf by 56,247.6% in the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after buying an additional 11,679,804 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Callaway Golf during the fourth quarter valued at about $451,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Callaway Golf by 6.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 37,917 shares of the company’s stock valued at $419,000 after buying an additional 2,261 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Callaway Golf during the first quarter valued at about $1,209,000. Institutional investors own 85.99% of the company’s stock.

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)

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