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) 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%.
WARNING: “Callaway Golf Co (ELY) Expected to Earn Q4 2018 Earnings of ($0.20) Per Share” was published by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/12/callaway-golf-co-ely-expected-to-earn-q4-2018-earnings-of-0-20-per-share.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.