Callaway Golf (ELY) Releases Q1 Earnings Guidance

Callaway Golf (NYSE:ELY) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.48-$0.52 for the period, compared to the Thomson Reuters consensus estimate of $0.38. The company issued revenue guidance of $365-$375 million, compared to the consensus revenue estimate of $339.61 million.Callaway Golf also updated its FY18 guidance to $0.64-$0.70 EPS.

Shares of Callaway Golf (ELY) opened at $15.12 on Friday. The firm has a market cap of $1,396.30, a P/E ratio of 27.35, a P/E/G ratio of 1.55 and a beta of 1.15. Callaway Golf has a one year low of $9.99 and a one year high of $15.95.

Callaway Golf (NYSE:ELY) last announced its earnings results 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 business had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.87%. Callaway Golf’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. analysts predict that Callaway Golf will post 0.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Tuesday, February 13th. Callaway Golf’s dividend payout ratio is currently 9.30%.

A number of equities research analysts recently weighed in on ELY shares. DA Davidson set a $18.00 target price on shares of Callaway Golf and gave the company a buy rating in a research note on Wednesday, December 27th. KeyCorp set a $16.00 price target on shares of Callaway Golf and gave the stock a buy rating in a research note on Saturday, October 21st. Jefferies Group reissued a buy rating and set a $18.00 price target on shares of Callaway Golf in a research note on Thursday, October 12th. B. Riley reissued a buy rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Finally, SunTrust Banks lifted their price target on shares of Callaway Golf from $16.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Callaway Golf has a consensus rating of Buy and an average target price of $16.40.

In related news, insider Neil Howie sold 24,838 shares of Callaway Golf stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $15.75, for a total value of $391,198.50. Following the transaction, the insider now directly owns 95,803 shares of the company’s stock, valued at $1,508,897.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alex Mitchell Boezeman sold 16,738 shares of Callaway Golf stock in a transaction on Thursday, December 21st. The stock was 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 directly owns 120,873 shares in the company, valued at $1,850,565.63. The disclosure for this sale can be found here. 2.59% of the stock is owned by insiders.

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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.

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

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