Callaway Golf Co (NYSE:ELY) – Research analysts at KeyCorp lifted their FY2017 EPS estimates for shares of Callaway Golf in a report issued on Monday, Zacks Investment Research reports. KeyCorp analyst S. Hamann now forecasts that the company will earn $0.27 per share for the year, up from their prior estimate of $0.26. KeyCorp has a “Positive” rating and a $16.00 price target on the stock.
Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Thursday, February 2nd. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. Callaway Golf had a net margin of 21.80% and a return on equity of 9.93%. The firm had revenue of $164 million for the quarter, compared to analyst estimates of $170.87 million. During the same period last year, the business earned ($0.29) EPS. The company’s revenue was up 7.2% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This report was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://sportsperspectives.com/2017/04/21/fy2017-eps-estimates-for-callaway-golf-co-boosted-by-keycorp-ely-updated-updated.html.
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a report on Monday, April 3rd. Morgan Stanley lowered shares of Callaway Golf from an “overweight” rating to an “equal weight” rating in a report on Monday. Imperial Capital dropped their target price on shares of Callaway Golf from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, February 7th. Pacific Crest reiterated a “positive” rating and set a $16.00 target price on shares of Callaway Golf in a report on Tuesday, March 21st. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Callaway Golf in a report on Tuesday, January 3rd. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $13.61.
Callaway Golf (NYSE:ELY) traded down 0.17% during midday trading on Thursday, hitting $11.82. The company had a trading volume of 1,100,495 shares. The firm has a market capitalization of $1.12 billion, a P/E ratio of 5.97 and a beta of 1.33. The firm’s 50 day moving average is $11.17 and its 200-day moving average is $11.17. Callaway Golf has a 52 week low of $8.96 and a 52 week high of $12.56.
In other news, SVP Alan Hocknell sold 10,759 shares of Callaway Golf stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $124,804.40. Following the completion of the transaction, the senior vice president now directly owns 57,907 shares in the company, valued at $671,721.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neil Howie sold 70,089 shares of Callaway Golf stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $11.50, for a total transaction of $806,023.50. Following the transaction, the insider now owns 90,173 shares of the company’s stock, valued at $1,036,989.50. The disclosure for this sale can be found here. Insiders sold 351,578 shares of company stock valued at $3,937,740 over the last 90 days. 2.10% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in shares of Callaway Golf by 8.3% in the third quarter. BlackRock Fund Advisors now owns 6,482,102 shares of the company’s stock valued at $75,257,000 after buying an additional 496,803 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Callaway Golf by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,407,802 shares of the company’s stock valued at $59,270,000 after buying an additional 286,326 shares in the last quarter. FMR LLC raised its stake in shares of Callaway Golf by 20.9% in the fourth quarter. FMR LLC now owns 4,305,000 shares of the company’s stock valued at $47,183,000 after buying an additional 742,800 shares in the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of Callaway Golf during the third quarter valued at about $30,767,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Callaway Golf by 8.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,500,754 shares of the company’s stock valued at $29,034,000 after buying an additional 187,206 shares in the last quarter. Hedge funds and other institutional investors own 85.85% of the company’s stock.
About Callaway Golf
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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