$174.78 Million in Sales Expected for Callaway Golf Co (ELY) This Quarter

Wall Street brokerages predict that Callaway Golf Co (NYSE:ELY) will post $174.78 million in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Callaway Golf’s earnings, with estimates ranging from $170.90 million to $178.90 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 8.8%. The company is expected to report its next earnings report on Wednesday, February 6th.

On average, analysts expect that Callaway Golf will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.22 billion to $1.25 billion. For the next financial year, analysts anticipate that the business will post sales of $1.28 billion, with estimates ranging from $1.25 billion to $1.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. The company had revenue of $262.65 million for the quarter, compared to analysts’ expectations of $250.83 million. Callaway Golf had a return on equity of 16.39% and a net margin of 8.70%.



ELY has been the topic of a number of recent research reports. KeyCorp raised their target price on Callaway Golf from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, August 3rd. Roth Capital raised their target price on Callaway Golf from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. SunTrust Banks reiterated a “buy” rating and issued a $24.00 target price on shares of Callaway Golf in a research note on Friday, August 3rd. Cowen set a $21.00 target price on Callaway Golf and gave the company a “hold” rating in a research note on Sunday, August 5th. Finally, Compass Point set a $20.00 target price on Callaway Golf and gave the company a “hold” rating in a research note on Monday, August 6th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.00.

In related news, VP Mark F. Leposky sold 21,767 shares of Callaway Golf stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $21.74, for a total transaction of $473,214.58. Following the sale, the vice president now directly owns 140,499 shares in the company, valued at $3,054,448.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.98% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ELY. Itau Unibanco Holding S.A. bought a new stake in Callaway Golf in the second quarter worth about $135,000. Brown Advisory Inc. bought a new stake in Callaway Golf in the first quarter worth about $173,000. Everence Capital Management Inc. bought a new stake in Callaway Golf in the third quarter worth about $211,000. NumerixS Investment Technologies Inc raised its position in Callaway Golf by 348.0% in the second quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock worth $215,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Callaway Golf in the second quarter worth about $227,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

ELY stock traded up $0.31 during mid-day trading on Friday, reaching $21.83. The company had a trading volume of 1,861,914 shares, compared to its average volume of 1,035,869. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.84. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 0.93 and a beta of 1.04. Callaway Golf has a one year low of $13.49 and a one year high of $24.67.

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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