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.
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.
WARNING: This story was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://sportsperspectives.com/2018/02/09/callaway-golf-ely-releases-q1-earnings-guidance.html.
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.
Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.