Analysts predict that Callaway Golf Co (NYSE:ELY) will report $181.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Callaway Golf’s earnings, with the highest sales estimate coming in at $191.00 million and the lowest estimate coming in at $174.58 million. Callaway Golf posted sales of $163.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.8%. The company is scheduled to issue its next earnings results on Thursday, February 1st.
According to Zacks, analysts expect that Callaway Golf will report full-year sales of $181.42 million for the current fiscal year, with estimates ranging from $1.03 billion to $1.05 billion. For the next financial year, analysts expect that the company will post sales of $1.11 billion per share, with estimates ranging from $1.06 billion to $1.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Callaway Golf.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The firm had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 29.7% on a year-over-year basis.
In other Callaway Golf news, SVP Richard H. Arnett sold 8,070 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $14.01, for a total value of $113,060.70. Following the completion of the transaction, the senior vice president now owns 5,000 shares of the company’s stock, valued at approximately $70,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brian P. Lynch sold 6,277 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.42, for a total value of $96,791.34. Following the completion of the transaction, the senior vice president now directly owns 46,184 shares of the company’s stock, valued at approximately $712,157.28. The disclosure for this sale can be found here. In the last three months, insiders sold 29,850 shares of company stock valued at $437,772. 2.59% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Callaway Golf by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 44,544 shares of the company’s stock valued at $569,000 after purchasing an additional 114 shares during the last quarter. Amalgamated Bank increased its position in shares of Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after purchasing an additional 160 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Callaway Golf by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock valued at $235,000 after purchasing an additional 361 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of 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 purchasing an additional 830 shares during the last quarter. Finally, Denver Investment Advisors LLC increased its position in shares of Callaway Golf by 7.2% during the 2nd quarter. Denver Investment Advisors LLC now owns 30,360 shares of the company’s stock valued at $388,000 after purchasing an additional 2,045 shares during the last quarter. 88.11% of the stock is owned by hedge funds and other institutional investors.
Shares of Callaway Golf (NYSE ELY) traded up $0.35 during mid-day trading on Friday, hitting $15.01. 800,250 shares of the stock were exchanged, compared to its average volume of 984,412. Callaway Golf has a 1 year low of $9.93 and a 1 year high of $15.63. The company has a market cap of $1,387.79, a PE ratio of 28.78, a PEG ratio of 1.91 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Tuesday, November 21st. Callaway Golf’s dividend payout ratio (DPR) is 2.09%.
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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