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.

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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.

Earnings History and Estimates for Callaway Golf (NYSE:ELY)

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