Callaway Golf Company (NYSE:ELY) – DA Davidson raised their FY2018 earnings per share (EPS) estimates for shares of Callaway Golf in a research report issued to clients and investors on Wednesday. DA Davidson analyst A. Burns now anticipates that the company will earn $0.51 per share for the year, up from their prior forecast of $0.50. DA Davidson has a “Buy” rating and a $16.00 price objective on the stock.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $295.70 million. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/09/21/callaway-golf-company-forecasted-to-post-fy2018-earnings-of-0-51-per-share-ely.html.

ELY has been the topic of several other reports. Zacks Investment Research cut Callaway Golf from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. KeyCorp reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Callaway Golf in a report on Wednesday, August 30th. Compass Point cut Callaway Golf from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $13.60 to $13.75 in a research note on Monday, August 7th. Jefferies Group LLC set a $18.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, FBR & Co boosted their price objective on Callaway Golf from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Callaway Golf presently has a consensus rating of “Buy” and an average target price of $15.31.

Callaway Golf (NYSE ELY) remained flat at $14.01 during trading on Thursday. The stock had a trading volume of 268,688 shares. The stock’s 50-day moving average price is $13.38 and its 200-day moving average price is $12.44. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 7.74 and a beta of 1.18. Callaway Golf has a 52-week low of $9.77 and a 52-week high of $14.16.

Several hedge funds and other institutional investors have recently made changes to their positions in ELY. Wells Fargo & Company MN boosted its holdings in shares of Callaway Golf by 6.7% in the first quarter. Wells Fargo & Company MN now owns 1,272,874 shares of the company’s stock valued at $14,090,000 after purchasing an additional 79,764 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Callaway Golf by 6.1% in the first quarter. Great West Life Assurance Co. Can now owns 132,248 shares of the company’s stock valued at $1,462,000 after purchasing an additional 7,624 shares during the period. First Trust Advisors LP boosted its holdings in shares of Callaway Golf by 97.6% in the first quarter. First Trust Advisors LP now owns 124,061 shares of the company’s stock valued at $1,373,000 after purchasing an additional 61,269 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Callaway Golf by 18.2% in the first quarter. Advisors Asset Management Inc. now owns 38,284 shares of the company’s stock valued at $424,000 after purchasing an additional 5,886 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings 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 purchasing an additional 441 shares during the period. Hedge funds and other institutional investors own 87.46% of the company’s stock.

In other Callaway Golf news, SVP Alan Hocknell sold 57,138 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 115,045 shares in the company, valued at $1,530,098.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer L. Thomas sold 19,349 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.90, for a total value of $268,951.10. Following the transaction, the insider now owns 30,189 shares of the company’s stock, valued at approximately $419,627.10. The disclosure for this sale can be found here. Insiders have sold 281,113 shares of company stock valued at $3,792,388 in the last 90 days. Company insiders own 2.59% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.29%. 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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