Zacks: Analysts Anticipate Callaway Golf (NYSE:ELY) Will Post Earnings of $0.24 Per Share

Equities analysts forecast that Callaway Golf (NYSE:ELYGet Rating) will report earnings per share of $0.24 for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Callaway Golf’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.19. Callaway Golf reported earnings per share of $0.62 during the same quarter last year, which would suggest a negative year over year growth rate of 61.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Callaway Golf will report full year earnings of $0.66 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $0.95. For the next year, analysts expect that the firm will report earnings of $0.84 per share, with EPS estimates ranging from $0.60 to $1.08. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELYGet Rating) last announced its earnings results on Thursday, February 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. The company had revenue of $711.72 million for the quarter, compared to analyst estimates of $703.02 million. Callaway Golf had a return on equity of 3.74% and a net margin of 10.28%. Callaway Golf’s revenue for the quarter was up 90.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.33) earnings per share.

A number of research analysts have commented on ELY shares. Raymond James lowered their target price on Callaway Golf from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, February 11th. The Goldman Sachs Group raised their price target on shares of Callaway Golf from $27.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, March 7th. B. Riley lowered their price target on Callaway Golf from $40.00 to $34.00 in a research note on Wednesday, January 26th. Truist Financial dropped their price objective on shares of Callaway Golf from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 11th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $37.00 price target on shares of Callaway Golf in a research note on Wednesday, March 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $39.36.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Corbenic Partners LLC acquired a new stake in shares of Callaway Golf during the 4th quarter valued at $25,000. Huntington National Bank bought a new position in Callaway Golf during the third quarter worth $26,000. Byrne Asset Management LLC raised its position in shares of Callaway Golf by 117.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,244 shares of the company’s stock worth $29,000 after acquiring an additional 673 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Callaway Golf during the 4th quarter worth approximately $47,000. Finally, Harbour Investments Inc. increased its stake in shares of Callaway Golf by 37.8% in the 4th quarter. Harbour Investments Inc. now owns 2,004 shares of the company’s stock valued at $55,000 after acquiring an additional 550 shares in the last quarter. Institutional investors own 94.25% of the company’s stock.

NYSE:ELY opened at $22.30 on Thursday. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 4.97 and a beta of 1.93. Callaway Golf has a 1-year low of $20.45 and a 1-year high of $37.75. The company has a current ratio of 1.35, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $23.41 and its 200 day moving average price is $25.78.

Callaway Golf Company Profile (Get Rating)

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology used by independent driving ranges and broadcast television; and World Golf Tour digital golf game.

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

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