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

Equities analysts expect Callaway Golf Co (NYSE:ELY) to post ($0.18) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Callaway Golf’s earnings, with estimates ranging from ($0.20) to ($0.14). Callaway Golf also posted earnings per share of ($0.18) during the same quarter last year. The company is expected to announce its next quarterly earnings report on Thursday, February 1st.

On average, 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 year, analysts forecast that the company will report earnings of $0.59 per share, with EPS estimates ranging from $0.55 to $0.68. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $243.60 million for the quarter, compared to analyst estimates of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS.

A number of equities analysts have weighed in on ELY shares. Aegis restated a “buy” rating on shares of Callaway Golf in a research note on Monday, September 4th. KeyCorp restated an “overweight” rating and issued a $16.00 target price on shares of Callaway Golf in a research note on Wednesday, August 30th. Forward View restated a “hold” rating on shares of Callaway Golf in a research note on Saturday, October 28th. Cowen set a $14.00 target price on Callaway Golf and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Finally, Zacks Investment Research lowered Callaway Golf from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.84.

Shares of Callaway Golf (NYSE ELY) traded up $0.35 during midday trading on Friday, reaching $15.01. The company’s stock had a trading volume of 800,250 shares, compared to its average volume of 984,412. The company has a market cap of $1,387.79, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.91 and a beta of 1.12. Callaway Golf has a fifty-two week low of $9.93 and a fifty-two week high of $15.63.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 22nd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, November 21st. Callaway Golf’s payout ratio is currently 2.09%.

In related news, SVP Richard H. Arnett sold 8,070 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian P. Lynch sold 6,277 shares of the stock in a transaction dated 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 $712,157.28. The disclosure for this sale can be found here. Insiders sold a total of 29,850 shares of company stock valued at $437,772 over the last quarter. Company insiders own 2.59% of the company’s stock.

A number of hedge funds have recently modified their holdings of ELY. Aperio Group LLC boosted its holdings in Callaway Golf by 31.8% during the 2nd quarter. Aperio Group LLC now owns 28,946 shares of the company’s stock valued at $370,000 after acquiring an additional 6,976 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Callaway Golf by 3.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 28,790 shares of the company’s stock valued at $368,000 after acquiring an additional 830 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Callaway Golf by 3.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 136,548 shares of the company’s stock valued at $1,745,000 after acquiring an additional 4,300 shares during the period. Sei Investments Co. boosted its holdings in Callaway Golf by 1,168.4% during the 2nd quarter. Sei Investments Co. now owns 131,204 shares of the company’s stock valued at $1,677,000 after acquiring an additional 120,860 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Callaway Golf during the 2nd quarter valued at about $1,342,000. Institutional investors own 88.11% of the company’s stock.

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

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