Callaway Golf Company (NYSE:ELY) – Investment analysts at Imperial Capital upped their FY2017 EPS estimates for Callaway Golf in a research report issued on Monday. Imperial Capital analyst G. Kelly now forecasts that the company will post earnings of $0.38 per share for the year, up from their prior estimate of $0.31. Imperial Capital has a “Outperform” rating and a $14.50 price objective on the stock. Imperial Capital also issued estimates for Callaway Golf’s FY2018 earnings at $0.43 EPS.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data 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. The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS.

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ELY has been the subject of several other research reports. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, April 18th. BidaskClub lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co upped their price target on shares of Callaway Golf from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $18.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley lowered shares of Callaway Golf from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 17th. 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 $14.58.

Callaway Golf (NYSE ELY) opened at 12.75 on Tuesday. The stock has a market cap of $1.20 billion, a PE ratio of 6.89 and a beta of 1.20. Callaway Golf has a 52-week low of $9.77 and a 52-week high of $13.35. The company’s 50 day moving average is $12.56 and its 200-day moving average is $11.80.

A number of institutional investors have recently added to or reduced their stakes in ELY. BlackRock Inc. boosted its position in 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 during the last quarter. Norges Bank bought a new position in Callaway Golf during the fourth quarter valued at approximately $12,313,000. Naya Capital Management UK Ltd. boosted its position in Callaway Golf by 42.8% in the first quarter. Naya Capital Management UK Ltd. now owns 3,089,460 shares of the company’s stock valued at $34,200,000 after buying an additional 926,385 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in Callaway Golf by 41.6% in the first quarter. Platinum Investment Management Ltd. now owns 2,327,400 shares of the company’s stock valued at $25,764,000 after buying an additional 683,900 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Callaway Golf by 161.1% in the first quarter. Kennedy Capital Management Inc. now owns 973,299 shares of the company’s stock valued at $10,774,000 after buying an additional 600,557 shares during the last quarter. 85.99% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Oliver G. Brewer III sold 131,884 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.31, for a total value of $1,755,376.04. Following the sale, the insider now owns 291,399 shares of the company’s stock, valued at approximately $3,878,520.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Alan Hocknell sold 57,138 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $13.30, for a total transaction of $759,935.40. Following the completion of the sale, the senior vice president now directly owns 115,045 shares in the company, valued at approximately $1,530,098.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,091 shares of company stock worth $3,000,915. Corporate insiders own 2.59% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be issued a $0.01 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Callaway Golf’s dividend payout ratio (DPR) is presently 2.20%.

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)

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