Imperial Capital Weighs in on Callaway Golf Company’s Q1 2018 Earnings (ELY)
Callaway Golf Company (NYSE:ELY) – Stock analysts at Imperial Capital issued their Q1 2018 earnings estimates for Callaway Golf in a research report issued on Friday. Imperial Capital analyst G. Kelly forecasts that the company will post earnings of $0.32 per share for the quarter. Imperial Capital has a “Outperform” rating and a $16.00 price target on the stock. Imperial Capital also issued estimates for Callaway Golf’s Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.05 EPS, Q4 2018 earnings at ($0.15) EPS, FY2018 earnings at $0.56 EPS and FY2019 earnings at $0.65 EPS.
Callaway Golf (NYSE:ELY) last issued its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The company had revenue of $243.60 million for the quarter, compared to analyst estimates of $209.52 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year.
ILLEGAL ACTIVITY WARNING: “Imperial Capital Weighs in on Callaway Golf Company’s Q1 2018 Earnings (ELY)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/10/30/imperial-capital-weighs-in-on-callaway-golf-companys-q1-2018-earnings-ely.html.
ELY has been the topic of a number of other reports. KeyCorp set a $16.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, October 21st. Jefferies Group LLC restated a “buy” rating and set a $18.00 price target on shares of Callaway Golf in a research report on Thursday, September 7th. Zacks Investment Research downgraded shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. FBR & Co set a $16.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Thursday. Finally, Aegis started coverage on shares of Callaway Golf in a research report on Friday, August 25th. They set a “buy” rating and a $16.00 price target on the stock. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Callaway Golf has an average rating of “Buy” and a consensus target price of $15.67.
Callaway Golf (ELY) opened at 14.42 on Monday. Callaway Golf has a 12 month low of $9.77 and a 12 month high of $15.63. The firm’s 50-day moving average is $14.19 and its 200 day moving average is $13.05. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 7.97 and a beta of 1.17.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Callaway Golf by 56,247.6% in the 1st quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock worth $129,526,000 after purchasing an additional 11,679,804 shares during the last quarter. Scott & Selber Inc. grew its stake in shares of Callaway Golf by 91.7% in the 2nd quarter. Scott & Selber Inc. now owns 244,133 shares of the company’s stock worth $3,120,000 after purchasing an additional 116,786 shares during the last quarter. UBS Group AG grew its stake in shares of Callaway Golf by 4.5% in the 1st quarter. UBS Group AG now owns 265,077 shares of the company’s stock worth $2,934,000 after purchasing an additional 11,350 shares during the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of Callaway Golf in the 2nd quarter worth approximately $10,707,000. Finally, Daruma Capital Management LLC acquired a new position in shares of Callaway Golf in the 2nd quarter worth approximately $48,831,000. 88.99% of the stock is currently owned by institutional investors.
In other news, insider Oliver G. Brewer III sold 131,884 shares of Callaway Golf stock in a transaction that occurred on 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 transaction, the insider now owns 291,399 shares of the company’s stock, valued at approximately $3,878,520.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alan Hocknell sold 41,051 shares of Callaway Golf stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $13.75, for a total transaction of $564,451.25. Following the completion of the transaction, the senior vice president now directly owns 73,227 shares in the company, valued at approximately $1,006,871.25. The disclosure for this sale can be found here. Insiders sold a total of 295,893 shares of company stock worth $4,016,299 in the last ninety days. Corporate insiders own 2.59% 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.
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.