Analysts Expect Callaway Golf Co (ELY) to Announce -$0.18 Earnings Per Share

Equities research analysts expect Callaway Golf Co (NYSE:ELY) to post earnings of ($0.18) per share for the current quarter, Zacks reports. Ten analysts have made estimates for Callaway Golf’s earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.20). Callaway Golf also reported earnings of ($0.18) per share in the same quarter last year. The business is expected to announce its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Callaway Golf will report full-year earnings of $0.51 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.55. For the next financial year, analysts forecast that the firm will report earnings of $0.59 per share, with EPS estimates ranging from $0.52 to $0.72. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS.

Several analysts have recently weighed in on the stock. B. Riley restated a “buy” rating on shares of Callaway Golf in a research report on Wednesday, November 1st. FBR & Co set a $16.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks lifted their target price on shares of Callaway Golf from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Friday, October 27th. Finally, KeyCorp set a $16.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, October 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.82.

Callaway Golf (NYSE ELY) traded up $0.63 during trading on Thursday, hitting $14.60. 918,667 shares of the stock traded hands, compared to its average volume of 770,415. The stock has a market cap of $1,380.23, a PE ratio of 7.64, a P/E/G ratio of 1.65 and a beta of 1.12. Callaway Golf has a 12-month low of $9.93 and a 12-month high of $15.63.

In other Callaway Golf news, SVP Brian P. Lynch sold 6,277 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total value of $96,791.34. Following the sale, the senior vice president now owns 46,184 shares of the company’s stock, valued at approximately $712,157.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard H. Arnett sold 8,070 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $14.01, for a total transaction of $113,060.70. Following the completion of the sale, the senior vice president now directly owns 5,000 shares in the company, valued at approximately $70,050. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,588 shares of company stock worth $694,031. 2.59% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC grew its holdings in Callaway Golf by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after acquiring an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Callaway Golf in the 2nd quarter worth $109,000. Fox Run Management L.L.C. bought a new stake in Callaway Golf in the 4th quarter worth $142,000. Flinton Capital Management LLC grew its holdings in Callaway Golf by 71.6% in the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after acquiring an additional 4,726 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Callaway Golf by 1.3% in the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after acquiring an additional 160 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors and hedge funds.

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Callaway Golf Company Profile

Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.

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