Q2 2018 EPS Estimates for Callaway Golf Co Decreased by Analyst (ELY)

Callaway Golf Co (NYSE:ELY) – Equities researchers at Imperial Capital decreased their Q2 2018 earnings estimates for Callaway Golf in a research report issued to clients and investors on Friday. Imperial Capital analyst G. Kelly now expects that the company will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.33. Imperial Capital currently has a “Outperform” rating on the stock. Imperial Capital also issued estimates for Callaway Golf’s Q3 2018 earnings at $0.07 EPS, FY2018 earnings at $0.67 EPS and FY2019 earnings at $0.76 EPS.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $192.00 million during the quarter, compared to analyst estimates of $184.74 million. During the same quarter last year, the business earned ($0.09) EPS. The company’s revenue was up 17.1% compared to the same quarter last year.

Several other research firms have also issued reports on ELY. Compass Point lowered shares of Callaway Golf from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $15.06 to $13.50 in a report 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 report on Saturday, October 21st. Raymond James Financial restated a “hold” rating on shares of Callaway Golf in a report on Wednesday, December 27th. DA Davidson set a $18.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research note on Wednesday, December 27th. Finally, Cowen upgraded shares of Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price objective for the company in a research note on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock 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 fifty-two week low of $9.99 and a fifty-two week high of $15.95. The stock 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 business 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 annualized dividend and a dividend yield of 0.27%. Callaway Golf’s dividend payout ratio is currently 9.30%.

In other Callaway Golf news, SVP Brian P. Lynch sold 25,911 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the sale, the senior vice president now owns 31,599 shares in the company, valued at approximately $468,929.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the business’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 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 quarter. 2.59% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. UBS Asset Management Americas Inc. increased its stake in Callaway Golf by 9.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 64,530 shares of the company’s stock valued at $899,000 after purchasing an additional 5,821 shares in the last quarter. BlackRock Inc. increased its stake 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 purchasing an additional 351,863 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 148,068 shares in the last quarter. Rhumbline Advisers increased its stake in Callaway Golf by 15.5% during the 4th quarter. Rhumbline Advisers now owns 226,822 shares of the company’s stock valued at $3,160,000 after purchasing an additional 30,468 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Callaway Golf by 224.4% during the 4th quarter. Arizona State Retirement System now owns 158,891 shares of the company’s stock valued at $2,213,000 after purchasing an additional 109,909 shares in the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.

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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.

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

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