Callaway Golf to Post Q1 2022 Earnings of $0.30 Per Share, B. Riley Forecasts (NYSE:ELY)

Callaway Golf (NYSE:ELYGet Rating) – B. Riley increased their Q1 2022 earnings per share (EPS) estimates for Callaway Golf in a report released on Wednesday, April 27th. B. Riley analyst S. Anderson now anticipates that the company will post earnings of $0.30 per share for the quarter, up from their previous forecast of $0.27. B. Riley also issued estimates for Callaway Golf’s Q2 2022 earnings at $0.46 EPS, Q3 2022 earnings at $0.31 EPS, FY2022 earnings at $0.93 EPS and FY2023 earnings at $1.20 EPS.

Callaway Golf (NYSE:ELYGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.09. The business had revenue of $711.72 million for the quarter, compared to the consensus estimate of $703.02 million. Callaway Golf had a net margin of 10.28% and a return on equity of 3.74%. The company’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) earnings per share.

Several other research firms have also commented on ELY. The Goldman Sachs Group boosted their price target on Callaway Golf from $27.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, March 7th. Zacks Investment Research raised Callaway Golf from a “sell” rating to a “hold” rating in a report on Monday, February 14th. Roth Capital restated a “buy” rating on shares of Callaway Golf in a report on Wednesday. Berenberg Bank reiterated a “buy” rating and set a $37.00 target price on shares of Callaway Golf in a research note on Wednesday, March 9th. Finally, Raymond James decreased their price target on shares of Callaway Golf from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, February 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Callaway Golf currently has a consensus rating of “Buy” and an average price target of $39.36.

Callaway Golf stock opened at $22.62 on Friday. The firm has a fifty day moving average of $23.14 and a 200-day moving average of $25.48. Callaway Golf has a 52-week low of $20.45 and a 52-week high of $37.75. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $4.18 billion, a P/E ratio of 9.31, a PEG ratio of 5.13 and a beta of 1.93.

Several institutional investors and hedge funds have recently made changes to their positions in ELY. Corbenic Partners LLC acquired a new stake in shares of Callaway Golf in the 4th quarter worth about $25,000. Byrne Asset Management LLC increased its stake in shares of Callaway Golf by 117.9% in the first quarter. Byrne Asset Management LLC now owns 1,244 shares of the company’s stock valued at $29,000 after purchasing an additional 673 shares during the period. CWM LLC raised its holdings in shares of Callaway Golf by 110.9% during the first quarter. CWM LLC now owns 1,643 shares of the company’s stock valued at $38,000 after buying an additional 864 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Callaway Golf during the fourth quarter worth approximately $47,000. Finally, Harbour Investments Inc. grew its holdings in Callaway Golf by 37.8% in the 4th quarter. Harbour Investments Inc. now owns 2,004 shares of the company’s stock worth $55,000 after buying an additional 550 shares in the last quarter. 94.25% of the stock is owned by institutional investors.

About Callaway Golf (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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