Research Analysts Offer Predictions for Callaway Golf Co’s Q4 2018 Earnings (ELY)

Callaway Golf Co (NYSE:ELY) – Equities researchers at Jefferies Financial Group dropped their Q4 2018 earnings per share (EPS) estimates for shares of Callaway Golf in a research report issued to clients and investors on Thursday, October 25th. Jefferies Financial Group analyst R. Konik now forecasts that the company will post earnings of ($0.33) per share for the quarter, down from their previous forecast of ($0.29). Jefferies Financial Group has a “Buy” rating and a $26.00 price objective on the stock.

A number of other analysts have also issued reports on the stock. Cowen lifted their price target on shares of Callaway Golf from $21.00 to $24.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. JPMorgan Chase & Co. restated a “buy” rating and issued a $27.00 price target on shares of Callaway Golf in a research note on Thursday, September 27th. Compass Point set a $20.00 price target on shares of Callaway Golf and gave the stock a “hold” rating in a research note on Monday, August 6th. SunTrust Banks reiterated a “buy” rating and set a $24.00 target price on shares of Callaway Golf in a research note on Friday, August 3rd. Finally, KeyCorp boosted their target price on shares of Callaway Golf from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $23.00.

Shares of NYSE:ELY opened at $21.92 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.28 and a quick ratio of 1.14. The firm has a market capitalization of $2.06 billion, a P/E ratio of 41.36, a P/E/G ratio of 0.83 and a beta of 1.04. Callaway Golf has a 12-month low of $13.49 and a 12-month high of $24.67.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The business had revenue of $262.65 million during the quarter, compared to analyst estimates of $250.83 million. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Callaway Golf by 8.3% during the second quarter. BlackRock Inc. now owns 13,041,770 shares of the company’s stock valued at $247,402,000 after purchasing an additional 999,297 shares during the last quarter. Northern Trust Corp increased its stake in Callaway Golf by 2.9% during the second quarter. Northern Trust Corp now owns 2,184,677 shares of the company’s stock valued at $41,443,000 after purchasing an additional 60,759 shares during the last quarter. Millennium Management LLC increased its stake in Callaway Golf by 7.0% during the second quarter. Millennium Management LLC now owns 1,894,004 shares of the company’s stock valued at $35,929,000 after purchasing an additional 123,633 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Callaway Golf by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,607,354 shares of the company’s stock valued at $30,492,000 after acquiring an additional 47,097 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Callaway Golf by 8.0% during the second quarter. Wells Fargo & Company MN now owns 1,440,229 shares of the company’s stock valued at $27,321,000 after acquiring an additional 106,277 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

In other Callaway Golf news, VP Mark F. Leposky sold 21,767 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $21.74, for a total transaction of $473,214.58. Following the completion of the sale, the vice president now owns 140,499 shares in the company, valued at $3,054,448.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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

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