Q1 2018 EPS Estimates for Callaway Golf Co (ELY) Boosted by Analyst

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) 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 firm has a market capitalization of $1,399.13, a PE ratio of 34.42, a PEG ratio of 1.46 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) 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%.

TRADEMARK VIOLATION NOTICE: This piece of content was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/12/q1-2018-eps-estimates-for-callaway-golf-co-ely-boosted-by-analyst.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.

Earnings History and Estimates for Callaway Golf (NYSE:ELY)

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.

Leave a Reply