Callaway Golf (ELY) Issues FY18 Earnings Guidance

Callaway Golf (NYSE:ELY) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.64-$0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.64. The company issued revenue guidance of $1.115-$1.135 billion, compared to the consensus revenue estimate of $1.12 billion.Callaway Golf also updated its Q1 guidance to $0.48-$0.52 EPS.

Shares of Callaway Golf (ELY) traded up $0.49 during mid-day trading on Thursday, hitting $15.26. The stock had a trading volume of 1,146,716 shares, compared to its average volume of 917,304. The firm has a market capitalization of $1,379.29, a P/E ratio of 7.73, a PEG ratio of 1.58 and a beta of 1.15. Callaway Golf has a 1-year low of $9.99 and a 1-year high of $15.95.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The firm had revenue of $192.00 million for the quarter, compared to analyst estimates of $184.74 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 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. equities research analysts forecast that Callaway Golf will post 0.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, February 13th. Callaway Golf’s dividend payout ratio (DPR) is presently 2.09%.

ELY has been the subject of a number of recent research reports. B. Riley reiterated a buy rating on shares of Callaway Golf in a report on Wednesday, November 1st. Roth Capital set a $17.00 price target on shares of Callaway Golf and gave the company a buy rating in a research note on Monday. Compass Point raised shares of Callaway Golf from a sell rating to a neutral rating and increased their price target for the company from $13.50 to $14.59 in a research note on Wednesday. Jefferies Group reissued a buy rating and issued a $21.00 price target on shares of Callaway Golf in a research note on Thursday. Finally, Cowen raised shares of Callaway Golf from a sell rating to a neutral rating and set a $14.00 price target for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $16.40.

In related news, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $15.31, for a total transaction of $256,258.78. Following the completion of the transaction, the insider now owns 120,873 shares of the company’s stock, valued at approximately $1,850,565.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard H. Arnett sold 8,070 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $70,050. The disclosure for this sale can be found here. Company insiders own 2.59% 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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