Jefferies Financial Group Weighs in on Callaway Golf’s Q4 2022 Earnings (NYSE:ELY)

Callaway Golf (NYSE:ELYGet Rating) – Equities researchers at Jefferies Financial Group raised their Q4 2022 earnings per share estimates for Callaway Golf in a report released on Wednesday, April 27th. Jefferies Financial Group analyst R. Konik now forecasts that the company will post earnings per share of ($0.15) for the quarter, up from their prior estimate of ($0.18). Jefferies Financial Group also issued estimates for Callaway Golf’s Q4 2023 earnings at ($0.10) EPS.

Callaway Golf (NYSE:ELYGet Rating) last released its quarterly earnings data on Thursday, February 10th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate 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 net margin of 10.28% and a return on equity of 3.74%. 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 business earned ($0.33) EPS.

Other analysts also recently issued research reports about the stock. StockNews.com assumed coverage on shares of Callaway Golf in a report on Thursday, March 31st. They issued a “sell” rating for the company. Roth Capital reiterated a “buy” rating on shares of Callaway Golf in a research report on Wednesday. The Goldman Sachs Group increased their price objective 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. Truist Financial decreased 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 report on Monday, April 11th. Finally, B. Riley decreased their price objective on shares of Callaway Golf from $40.00 to $34.00 in a research report on Wednesday, January 26th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $39.36.

Shares of ELY opened at $22.62 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.73 and a current ratio of 1.35. The firm has a market cap of $4.18 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 5.13 and a beta of 1.93. Callaway Golf has a 52 week low of $20.45 and a 52 week high of $37.75. The firm’s 50-day simple moving average is $23.14 and its 200 day simple moving average is $25.48.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank boosted its stake in Callaway Golf by 0.6% during the fourth quarter. Amalgamated Bank now owns 77,675 shares of the company’s stock worth $2,131,000 after acquiring an additional 430 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of Callaway Golf by 4.6% in the fourth quarter. Profund Advisors LLC now owns 10,123 shares of the company’s stock valued at $278,000 after buying an additional 442 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Callaway Golf by 22.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $66,000 after buying an additional 444 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Callaway Golf by 1.2% in the third quarter. Voya Investment Management LLC now owns 44,757 shares of the company’s stock valued at $1,237,000 after buying an additional 517 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Callaway Golf by 37.8% in the fourth quarter. Harbour Investments Inc. now owns 2,004 shares of the company’s stock valued at $55,000 after buying an additional 550 shares in the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

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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