Callaway Golf Co (ELY) to Post FY2018 Earnings of $1.05 Per Share, Jefferies Financial Group Forecasts

Callaway Golf Co (NYSE:ELY) – Investment analysts at Jefferies Financial Group increased their FY2018 EPS estimates for shares of Callaway Golf in a research note issued on Thursday, October 25th. Jefferies Financial Group analyst R. Konik now expects that the company will post earnings of $1.05 per share for the year, up from their prior forecast of $1.00. Jefferies Financial Group also issued estimates for Callaway Golf’s FY2019 earnings at $1.11 EPS.

Several other analysts have also recently issued reports on the company. Cowen raised their target price on Callaway Golf from $21.00 to $24.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $27.00 target price on shares of Callaway Golf in a research note on Thursday, September 27th. Imperial Capital raised their target price on Callaway Golf from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. Compass Point set a $20.00 target price on Callaway Golf and gave the stock a “hold” rating in a research note on Monday, August 6th. Finally, SunTrust Banks reissued a “buy” rating and issued a $24.00 target price on shares of Callaway Golf in a research note on Friday, August 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.55.



NYSE ELY opened at $21.83 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.18 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. Callaway Golf has a 1 year low of $13.49 and a 1 year high of $24.67.

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, topping the Thomson Reuters’ consensus estimate 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%.

In other Callaway Golf news, VP Mark F. Leposky sold 21,767 shares of Callaway Golf stock in a transaction that occurred on Friday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $3,054,448.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ELY. Itau Unibanco Holding S.A. bought a new stake in Callaway Golf during the 2nd quarter valued at approximately $135,000. Brown Advisory Inc. bought a new stake in Callaway Golf during the 1st quarter valued at approximately $173,000. Everence Capital Management Inc. bought a new stake in Callaway Golf during the 3rd quarter valued at approximately $211,000. NumerixS Investment Technologies Inc boosted its position in Callaway Golf by 348.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock valued at $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 during the 2nd quarter valued at approximately $227,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Callaway Golf Company Profile

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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