Wall Street analysts expect Callaway Golf Co (NYSE:ELY) to post sales of $176.44 million for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Callaway Golf’s earnings, with the lowest sales estimate coming in at $172.20 million and the highest estimate coming in at $186.00 million. Callaway Golf reported sales of $191.66 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The firm is scheduled to issue its next earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Callaway Golf will report full-year sales of $1.24 billion for the current year, with estimates ranging from $1.23 billion to $1.25 billion. For the next year, analysts forecast that the business will post sales of $1.29 billion, with estimates ranging from $1.27 billion to $1.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Callaway Golf.
Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, October 24th. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.09. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. The firm had revenue of $262.65 million during the quarter, compared to analysts’ expectations of $250.83 million.
Several research firms have recently commented on ELY. Cowen raised their target price on shares of Callaway Golf from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $27.00 target price on shares of Callaway Golf in a research report on Thursday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $26.00 target price on shares of Callaway Golf in a research report on Monday, October 29th. ValuEngine cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, B. Riley set a $30.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Sunday, December 2nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.91.
NYSE:ELY opened at $16.60 on Friday. Callaway Golf has a 12 month low of $13.49 and a 12 month high of $24.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.28 and a quick ratio of 1.14. The stock has a market capitalization of $1.58 billion, a PE ratio of 31.32, a P/E/G ratio of 0.64 and a beta of 1.03.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Callaway Golf’s payout ratio is 7.55%.
Several institutional investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC increased its stake in shares of Callaway Golf by 7.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 43,200 shares of the company’s stock worth $820,000 after acquiring an additional 3,144 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of Callaway Golf by 30.8% in the 3rd quarter. Riverhead Capital Management LLC now owns 14,456 shares of the company’s stock worth $351,000 after acquiring an additional 3,400 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Callaway Golf by 10.7% in the 3rd quarter. Systematic Financial Management LP now owns 37,755 shares of the company’s stock worth $917,000 after acquiring an additional 3,635 shares in the last quarter. Paloma Partners Management Co increased its stake in shares of Callaway Golf by 35.4% in the 2nd quarter. Paloma Partners Management Co now owns 14,738 shares of the company’s stock worth $280,000 after acquiring an additional 3,855 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Callaway Golf by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock valued at $39,143,000 after purchasing an additional 4,130 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.
About Callaway Golf
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.
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