Callaway Golf (ELY) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Callaway Golf (NYSE:ELY) posted its earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02, Briefing.com reports. The business had revenue of $192.00 million for the quarter, compared to analyst estimates of $184.74 million. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. Callaway Golf updated its Q1 guidance to $0.48-$0.52 EPS and its FY18 guidance to $0.64-$0.70 EPS.

Callaway Golf (ELY) traded up $0.75 on Thursday, hitting $15.52. 667,807 shares of the stock traded hands, compared to its average volume of 894,237. The company has a market cap of $1,379.29, a P/E ratio of 7.73, a P/E/G ratio of 1.58 and a beta of 1.15. Callaway Golf has a one year low of $9.99 and a one year high of $15.95.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Tuesday, February 13th. Callaway Golf’s dividend payout ratio (DPR) is 2.09%.

ELY has been the topic of several recent research reports. KeyCorp set a $16.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a report on Saturday, October 21st. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, January 5th. FBR & Co set a $16.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. started coverage on shares of Callaway Golf in a research note on Thursday, December 14th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Imperial Capital reaffirmed an “outperform” rating on shares of Callaway Golf in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Callaway Golf currently has an average rating of “Buy” and an average price target of $16.40.

In other news, SVP Richard H. Arnett sold 8,070 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.01, for a total value of $113,060.70. Following the completion of the sale, the senior vice president now owns 5,000 shares of the company’s stock, valued at approximately $70,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $15.31, for a total transaction of $256,258.78. Following the completion of the sale, the insider now directly owns 120,873 shares of the company’s stock, valued at approximately $1,850,565.63. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by insiders.

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Callaway Golf Company Profile

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 for Callaway Golf (NYSE:ELY)

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