Analysts Expect Callaway Golf (ELY) to Announce $0.51 EPS

Brokerages expect Callaway Golf (NYSE:ELY) to announce earnings of $0.51 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Callaway Golf’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.49. Callaway Golf reported earnings of $0.30 per share in the same quarter last year, which would indicate a positive year over year growth rate of 70%. The business is scheduled to issue its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that Callaway Golf will report full-year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.75. For the next year, analysts anticipate that the business will report earnings of $0.79 per share, with EPS estimates ranging from $0.71 to $0.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The company had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted ($0.09) earnings per share.



Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Callaway Golf from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Roth Capital set a $17.00 price target on Callaway Golf and gave the company a “buy” rating in a research report on Monday, February 5th. Compass Point raised Callaway Golf from a “sell” rating to a “neutral” rating and raised their price target for the company from $13.50 to $14.59 in a research report on Wednesday, February 7th. KeyCorp lifted their target price on Callaway Golf from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase started coverage on Callaway Golf in a research report on Thursday, December 14th. They set an “overweight” rating and a $18.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $16.66.

Shares of NYSE:ELY opened at $17.40 on Friday. The stock has a market capitalization of $1,602.11, a PE ratio of 32.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. Callaway Golf has a 52-week low of $11.19 and a 52-week high of $17.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48.

In related news, SVP Richard H. Arnett sold 7,241 shares of Callaway Golf stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $17.00, for a total transaction of $123,097.00. Following the sale, the senior vice president now directly owns 12,229 shares of the company’s stock, valued at $207,893. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Brian P. Lynch sold 25,911 shares of Callaway Golf stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $14.84, for a total value of $384,519.24. Following the sale, the senior vice president now directly owns 31,599 shares in the company, valued at $468,929.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,409 shares of company stock worth $3,783,462. 2.59% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Callaway Golf by 3.0% during the fourth 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. Dimensional Fund Advisors LP boosted its holdings in Callaway Golf by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after purchasing an additional 240,520 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Callaway Golf by 21.9% during the fourth quarter. Glenmede Trust Co. NA now owns 3,195,788 shares of the company’s stock valued at $44,515,000 after purchasing an additional 573,445 shares in the last quarter. Copper Rock Capital Partners LLC boosted its holdings in Callaway Golf by 24.9% during the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after purchasing an additional 483,441 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Callaway Golf by 11.0% during the fourth 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. 88.94% of the stock is currently owned by institutional investors.

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

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