Callaway Golf (NYSE:ELY) Expected to Post Q1 2022 Earnings of $0.27 Per Share

Callaway Golf (NYSE:ELYGet Rating) – Analysts at B. Riley dropped their Q1 2022 EPS estimates for Callaway Golf in a research report issued on Friday, April 22nd. B. Riley analyst S. Anderson now expects that the company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.29.

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

A number of other research firms have also recently weighed in on ELY. Zacks Investment Research raised Callaway Golf from a “sell” rating to a “hold” rating in a report on Monday, February 14th. Berenberg Bank reiterated a “buy” rating and set a $37.00 price objective on shares of Callaway Golf in a research note on Wednesday, March 9th. Truist Financial cut their price objective on Callaway Golf from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 11th. Raymond James cut their price objective on Callaway Golf from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, February 11th. Finally, The Goldman Sachs Group boosted their price objective on Callaway Golf from $27.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $39.36.

NYSE ELY opened at $22.66 on Monday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 5.13 and a beta of 1.93. Callaway Golf has a twelve month low of $20.45 and a twelve month 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 stock has a 50-day moving average of $23.27 and a 200 day moving average of $25.60.

Several hedge funds have recently bought and sold shares of the company. Providence Equity Partners L.L.C. acquired a new position in Callaway Golf in the fourth quarter valued at approximately $571,349,000. Boston Partners lifted its holdings in Callaway Golf by 2.2% in the fourth quarter. Boston Partners now owns 5,242,973 shares of the company’s stock valued at $143,780,000 after acquiring an additional 110,967 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Callaway Golf by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 3,713,151 shares of the company’s stock valued at $102,598,000 after acquiring an additional 44,227 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Callaway Golf in the fourth quarter valued at approximately $100,564,000. Finally, State Street Corp lifted its holdings in Callaway Golf by 2.4% in the fourth quarter. State Street Corp now owns 3,438,369 shares of the company’s stock valued at $94,349,000 after acquiring an additional 80,838 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.

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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