Analysts Anticipate Callaway Golf Co (ELY) Will Post Earnings of $0.49 Per Share

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Brokerages expect Callaway Golf Co (NYSE:ELY) to announce earnings per share (EPS) of $0.49 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Callaway Golf’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.52. Callaway Golf posted earnings per share of $0.65 in the same quarter last year, which would suggest a negative year-over-year growth rate of 24.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Callaway Golf will report full-year earnings of $1.01 per share for the current financial year, with EPS estimates ranging from $0.98 to $1.03. For the next year, analysts forecast that the firm will post earnings of $1.17 per share, with EPS estimates ranging from $1.01 to $1.29. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, February 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $181.00 million for the quarter, compared to the consensus estimate of $176.35 million. Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share.

Several research firms recently weighed in on ELY. Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. B. Riley set a $30.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a research note on Sunday, December 2nd. JPMorgan Chase & Co. began coverage on shares of Callaway Golf in a research note on Thursday, December 20th. They issued a “hold” rating and a $23.00 target price for the company. Compass Point upgraded shares of Callaway Golf from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 18th. Finally, Berenberg Bank assumed coverage on shares of Callaway Golf in a research note on Wednesday, February 13th. They issued a “buy” rating and a $24.00 target price for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Callaway Golf currently has a consensus rating of “Hold” and an average target price of $22.31.

Shares of NYSE:ELY traded down $0.16 during midday trading on Friday, hitting $16.73. The company’s stock had a trading volume of 21,486 shares, compared to its average volume of 1,099,519. The company has a market cap of $1.60 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.68 and a beta of 1.05. Callaway Golf has a fifty-two week low of $14.44 and a fifty-two week high of $24.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 1.73.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 14th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, February 13th. Callaway Golf’s dividend payout ratio is 3.74%.

In other Callaway Golf news, Director Russell L. Fleischer purchased 5,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $77,500.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $77,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of ELY. Vanguard Group Inc raised its stake in shares of Callaway Golf by 35.7% in the third quarter. Vanguard Group Inc now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after acquiring an additional 1,929,680 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Callaway Golf by 35.7% in the third quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after purchasing an additional 1,929,680 shares in the last quarter. Norges Bank acquired a new stake in shares of Callaway Golf in the fourth quarter valued at approximately $23,058,000. Renaissance Technologies LLC increased its holdings in shares of Callaway Golf by 56.0% in the third quarter. Renaissance Technologies LLC now owns 1,579,185 shares of the company’s stock valued at $38,358,000 after purchasing an additional 566,785 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Callaway Golf in the fourth quarter valued at approximately $34,000. Institutional investors own 90.56% of the company’s stock.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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