Callaway Golf (NYSE:ELY) Expected to Post Earnings of $0.07 Per Share

Brokerages expect Callaway Golf (NYSE:ELY) to announce $0.07 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Callaway Golf’s earnings. The lowest EPS estimate is ($0.10) and the highest is $0.14. Callaway Golf reported earnings per share of $0.60 in the same quarter last year, which suggests a negative year-over-year growth rate of 88.3%. The business is scheduled to announce its next quarterly earnings results on Monday, November 8th.

On average, analysts expect that Callaway Golf will report full-year earnings of $0.39 per share for the current fiscal year, with EPS estimates ranging from $0.11 to $0.56. For the next year, analysts anticipate that the company will report earnings of $0.41 per share, with EPS estimates ranging from $0.12 to $0.51. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Callaway Golf.

Callaway Golf (NYSE:ELY) last released its earnings results on Monday, August 9th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.37. Callaway Golf had a return on equity of 7.99% and a net margin of 15.57%. The firm had revenue of $914.00 million for the quarter, compared to analysts’ expectations of $755.21 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 207.7% on a year-over-year basis.

Several analysts have recently commented on ELY shares. Zacks Investment Research lowered Callaway Golf from a “buy” rating to a “hold” rating in a report on Monday, September 6th. Berenberg Bank increased their price objective on Callaway Golf from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 31st. Truist increased their price objective on Callaway Golf from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 25th. Roth Capital increased their price objective on Callaway Golf from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Finally, TheStreet lowered Callaway Golf from a “b-” rating to a “c” rating in a report on Monday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Callaway Golf presently has an average rating of “Buy” and a consensus target price of $36.30.

Callaway Golf stock traded down $1.17 during mid-day trading on Tuesday, reaching $27.08. 2,376,862 shares of the company were exchanged, compared to its average volume of 2,165,540. The business has a fifty day moving average of $30.32 and a 200 day moving average of $30.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.59. The firm has a market cap of $5.04 billion, a P/E ratio of 9.78 and a beta of 2.10. Callaway Golf has a 12-month low of $14.62 and a 12-month high of $37.75.

A number of institutional investors have recently modified their holdings of the stock. Paragon Wealth Strategies LLC purchased a new position in Callaway Golf in the 2nd quarter worth approximately $30,000. IndexIQ Advisors LLC purchased a new position in Callaway Golf in the 2nd quarter worth approximately $31,000. Truvestments Capital LLC lifted its stake in Callaway Golf by 100.0% in the 1st quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 500 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Callaway Golf in the 2nd quarter worth approximately $36,000. Finally, Parkside Financial Bank & Trust lifted its stake in Callaway Golf by 43.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,266 shares of the company’s stock worth $34,000 after purchasing an additional 386 shares in the last quarter. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

Callaway Golf Company Profile

Callaway Golf Co engages in the manufacture and distribution of golf equipment and accessories. It operates through the following segments: Golf Equipment; and Apparel, Gear, and Other. The Golf Equipment segment focuses in the designs, manufactures, and selling of a full line of golf equipment. The Apparel, Gear, and Other segment involves in the development and selling of soft goods products under the Callaway, TravisMathew, OGIO, and Jack Wolfskin brands.

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

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