Callaway Golf Co (NYSE:ELY) – DA Davidson boosted their Q1 2018 earnings per share (EPS) estimates for Callaway Golf in a report released on Thursday. DA Davidson analyst A. Burns now anticipates that the company will earn $0.50 per share for the quarter, up from their previous forecast of $0.35. DA Davidson currently has a “Buy” rating and a $18.00 price objective on the stock. DA Davidson also issued estimates for Callaway Golf’s Q4 2018 earnings at ($0.15) EPS.
Other research analysts have also issued reports about the company. KeyCorp set a $16.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, October 21st. B. Riley reissued a “buy” rating on shares of Callaway Golf in a research report on Wednesday, November 1st. Jefferies Group set a $19.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks lifted their price objective on Callaway Golf from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, FBR & Co set a $16.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research report on Thursday, October 26th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.40.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm had revenue of $192.00 million during the quarter, compared to analyst estimates of $184.74 million. During the same period last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank increased its holdings in Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after purchasing an additional 160 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Callaway Golf by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock worth $235,000 after purchasing an additional 361 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Callaway Golf by 10.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 35,892 shares of the company’s stock worth $459,000 after purchasing an additional 3,471 shares in the last quarter. American International Group Inc. increased its holdings in Callaway Golf by 5.8% during the 3rd quarter. American International Group Inc. now owns 74,179 shares of the company’s stock worth $1,070,000 after purchasing an additional 4,087 shares in the last quarter. Finally, Flinton Capital Management LLC increased its holdings in Callaway Golf by 71.6% during the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after purchasing an additional 4,726 shares in the last quarter. 89.58% of the stock is owned by hedge funds and other institutional investors.
In other Callaway Golf news, insider Alex Mitchell Boezeman sold 16,738 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil Howie sold 24,838 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $15.75, for a total value of $391,198.50. Following the sale, the insider now directly owns 95,803 shares of the company’s stock, valued at $1,508,897.25. 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 over the last ninety days. 2.59% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, February 13th. 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.
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