Equities analysts expect Callaway Golf Co (NYSE:ELY) to post $505.12 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Callaway Golf’s earnings, with the highest sales estimate coming in at $508.38 million and the lowest estimate coming in at $500.66 million. Callaway Golf posted sales of $403.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.3%. The firm is scheduled to issue its next earnings report on Thursday, April 25th.
On average, analysts expect that Callaway Golf will report full year sales of $1.69 billion for the current year, with estimates ranging from $1.68 billion to $1.70 billion. For the next financial year, analysts anticipate that the company will post sales of $1.77 billion, with estimates ranging from $1.73 billion to $1.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Callaway Golf.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, February 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). Callaway Golf had a net margin of 8.43% and a return on equity of 14.01%. The company had revenue of $181.00 million for the quarter, compared to analysts’ expectations of $176.35 million. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year.
ELY has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $26.00 price target on shares of Callaway Golf in a research note on Monday, October 29th. ValuEngine cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. B. Riley set a $30.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Sunday, December 2nd. Raymond James reaffirmed a “hold” rating on shares of Callaway Golf in a research note on Wednesday, December 5th. Finally, Roth Capital lowered shares of Callaway Golf from a “buy” rating to a “hold” rating and cut their price objective for the stock from $24.00 to $17.00 in a report on Monday, December 17th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.31.
Callaway Golf stock opened at $16.48 on Friday. Callaway Golf has a 12-month low of $14.44 and a 12-month high of $24.67. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.63 and a beta of 1.03. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 14th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, February 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Callaway Golf’s payout ratio is currently 3.74%.
In other Callaway Golf news, Director Russell L. Fleischer purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were purchased at an average price of $15.50 per share, for a total transaction of $77,500.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $77,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Callaway Golf by 0.6% in the fourth quarter. BlackRock Inc. now owns 13,292,414 shares of the company’s stock valued at $203,375,000 after buying an additional 80,255 shares during the period. Vanguard Group Inc. raised its stake in shares of Callaway Golf by 35.7% during 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 during the period. Vanguard Group Inc raised its stake in shares of Callaway Golf by 35.7% during 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 during the period. Bank of New York Mellon Corp raised its stake in shares of Callaway Golf by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock valued at $39,143,000 after purchasing an additional 4,130 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Callaway Golf by 56.0% during 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 during the period. Hedge funds and other institutional investors own 88.80% 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 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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