Callaway Golf Co (NYSE:ELY) – Research analysts at Jefferies Group upped their Q1 2018 earnings estimates for Callaway Golf in a report released on Thursday. Jefferies Group analyst R. Konik now forecasts that the company will earn $0.52 per share for the quarter, up from their prior estimate of $0.37. Jefferies Group has a “Buy” rating and a $21.00 price target on the stock. Jefferies Group also issued estimates for Callaway Golf’s Q4 2018 earnings at ($0.19) EPS.
Several other equities research analysts have also recently issued reports on ELY. B. Riley restated a “buy” rating on shares of Callaway Golf in a report on Wednesday, November 1st. Roth Capital set a $17.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Monday, February 5th. Compass Point upgraded shares of Callaway Golf from a “sell” rating to a “neutral” rating and raised their target price for the stock from $13.50 to $14.59 in a report on Wednesday, February 7th. Cowen upgraded shares of Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 target price on the stock in a report on Wednesday, February 7th. Finally, Imperial Capital restated an “outperform” rating on shares of Callaway Golf in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.40.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ 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 quarter last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders 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 dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, February 13th. Callaway Golf’s dividend payout ratio is presently 9.30%.
In other news, insider Neil Howie sold 24,838 shares of the firm’s 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 sale, the insider now directly owns 95,803 shares in the company, valued at approximately $1,508,897.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the firm’s 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 owns 120,873 shares in the company, valued at $1,850,565.63. The disclosure for this sale can be found here. Insiders have sold a total of 67,487 shares of company stock worth $1,031,977 in the last quarter. Corporate insiders own 2.59% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after purchasing an additional 160 shares during the period. Suntrust Banks Inc. raised its position in shares of Callaway Golf by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock valued at $235,000 after purchasing an additional 361 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Callaway Golf by 10.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 35,892 shares of the company’s stock valued at $459,000 after purchasing an additional 3,471 shares during the period. American International Group Inc. raised its position in shares of Callaway Golf by 5.8% during the 3rd quarter. American International Group Inc. now owns 74,179 shares of the company’s stock valued at $1,070,000 after purchasing an additional 4,087 shares during the period. Finally, Flinton Capital Management LLC raised its position in shares of Callaway Golf by 71.6% during the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after purchasing an additional 4,726 shares during the period. Hedge funds and other institutional investors own 89.58% of the company’s stock.
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.
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