Callaway Golf Co to Post Q3 2018 Earnings of $0.03 Per Share, SunTrust Banks Forecasts (ELY)

Callaway Golf Co (NYSE:ELY) – Analysts at SunTrust Banks reduced their Q3 2018 earnings estimates for shares of Callaway Golf in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Swartz now forecasts that the company will earn $0.03 per share for the quarter, down from their prior estimate of $0.05. SunTrust Banks has a “Buy” rating and a $17.00 price target on the stock. SunTrust Banks also issued estimates for Callaway Golf’s Q4 2018 earnings at ($0.19) EPS.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results 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 business had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $184.74 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. DA Davidson set a $18.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Wednesday, December 27th. KeyCorp set a $16.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Saturday, October 21st. B. Riley reissued a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Jefferies Group set a $19.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, FBR & Co set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research note on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.40.

Callaway Golf (NYSE ELY) opened at $14.80 on Monday. Callaway Golf has a 12 month low of $9.99 and a 12 month high of $15.95. The company has a market cap of $1,399.13, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15.

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

In other Callaway Golf news, insider Neil Howie sold 24,838 shares of the stock in a transaction on 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 sale, the insider now owns 95,803 shares of the company’s stock, valued at approximately $1,508,897.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $15.31, for a total transaction of $256,258.78. Following 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. Insiders sold a total of 67,487 shares of company stock valued at $1,031,977 in the last ninety days. 2.59% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Callaway Golf by 3.0% during the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after buying an additional 351,863 shares during the period. Dimensional Fund Advisors LP boosted its position in Callaway Golf by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after buying an additional 240,520 shares during the period. Copper Rock Capital Partners LLC boosted its position in Callaway Golf by 24.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after buying an additional 483,441 shares during the period. State Street Corp boosted its position in Callaway Golf by 2.8% during the 2nd quarter. State Street Corp now owns 2,215,678 shares of the company’s stock valued at $28,317,000 after buying an additional 59,853 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Callaway Golf by 11.0% during 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 buying an additional 148,068 shares during the period. 89.58% of the stock is owned by institutional investors and hedge funds.

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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 and Estimates for Callaway Golf (NYSE:ELY)

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