Callaway Golf Co (ELY) Expected to Earn Q4 2018 Earnings of ($0.20) Per Share

Callaway Golf Co (NYSE:ELY) – Investment analysts at B. Riley issued their Q4 2018 earnings estimates for shares of Callaway Golf in a report released on Thursday. B. Riley analyst S. Anderson anticipates that the company will earn ($0.20) per share for the quarter. B. Riley has a “Buy” rating on the stock.

Other equities analysts also recently issued reports about the stock. KeyCorp set a $16.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Saturday, October 21st. Jefferies Group set a $19.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. SunTrust Banks increased their price objective on shares of Callaway Golf from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. FBR & Co set a $16.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, DA Davidson set a $18.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a report on Wednesday, December 27th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Callaway Golf presently has an average rating of “Buy” and a consensus price target of $16.40.

Callaway Golf (NYSE:ELY) opened at $14.80 on Monday. Callaway Golf has a one year low of $9.99 and a one year high of $15.95. The company has a market cap of $1,399.14, a PE ratio of 34.42, a PEG ratio of 1.43 and a beta of 1.15.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The company had revenue of $192.00 million during the quarter, compared to the consensus estimate of $184.74 million. During the same period in the prior year, the business posted ($0.09) EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis.

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. raised its holdings in Callaway Golf by 9.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 64,530 shares of the company’s stock valued at $899,000 after acquiring an additional 5,821 shares during the period. BlackRock Inc. raised its holdings in Callaway Golf by 3.0% in the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after acquiring an additional 351,863 shares during the period. Bank of New York Mellon Corp raised its holdings in Callaway Golf by 11.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock valued at $20,800,000 after acquiring an additional 148,068 shares during the period. Rhumbline Advisers raised its holdings in Callaway Golf by 15.5% in the 4th quarter. Rhumbline Advisers now owns 226,822 shares of the company’s stock valued at $3,160,000 after acquiring an additional 30,468 shares during the period. Finally, Arizona State Retirement System raised its holdings in Callaway Golf by 224.4% in the 4th quarter. Arizona State Retirement System now owns 158,891 shares of the company’s stock valued at $2,213,000 after acquiring an additional 109,909 shares during the period. 88.56% of the stock is currently owned by hedge funds and other institutional investors.

In other Callaway Golf news, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $15.31, for a total value of $256,258.78. Following the transaction, the insider now directly owns 120,873 shares of the company’s stock, valued at approximately $1,850,565.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Neil Howie sold 24,838 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.75, for a total transaction of $391,198.50. Following the completion of the transaction, the insider now directly owns 95,803 shares in the company, valued at $1,508,897.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,487 shares of company stock worth $1,031,977. 2.59% of the stock is owned by insiders.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Callaway Golf’s payout ratio is 9.30%.

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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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