Callaway Golf (NYSE:ELY) Expected to Announce Earnings of $0.42 Per Share

Equities analysts forecast that Callaway Golf (NYSE:ELY – Get Rating) will post earnings of $0.42 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Callaway Golf’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.33. Callaway Golf posted earnings per share of $0.36 during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The firm is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Callaway Golf will report full-year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.64 to $0.92. For the next financial year, analysts anticipate that the firm will post earnings of $0.92 per share, with EPS estimates ranging from $0.67 to $1.18. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Callaway Golf had a return on equity of 3.56% and a net margin of 3.87%. The firm’s revenue for the quarter was up 59.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share.

ELY has been the subject of a number of research analyst reports. Truist Financial reduced their target price 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. StockNews.com lowered Callaway Golf from a “hold” rating to a “sell” rating in a research note on Thursday, May 19th. The Goldman Sachs Group raised their target price on Callaway Golf from $27.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, March 7th. Berenberg Bank restated a “buy” rating and issued a $37.00 target price on shares of Callaway Golf in a research note on Wednesday, March 9th. Finally, Raymond James cut their price target on Callaway Golf from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Callaway Golf has an average rating of “Buy” and an average price target of $38.45.

In other news, Director Erik J. Anderson sold 9,992 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $20.81, for a total transaction of $207,933.52. Following the sale, the director now directly owns 651,821 shares in the company, valued at approximately $13,564,395.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.46% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in Callaway Golf by 0.6% in the 4th quarter. Amalgamated Bank now owns 77,675 shares of the company’s stock worth $2,131,000 after buying an additional 430 shares during the last quarter. Profund Advisors LLC boosted its holdings in Callaway Golf by 4.6% in the 4th quarter. Profund Advisors LLC now owns 10,123 shares of the company’s stock worth $278,000 after buying an additional 442 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in Callaway Golf by 4.2% in the 1st quarter. First Republic Investment Management Inc. now owns 12,759 shares of the company’s stock worth $299,000 after buying an additional 512 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Callaway Golf by 1.2% in the 3rd quarter. Voya Investment Management LLC now owns 44,757 shares of the company’s stock worth $1,237,000 after buying an additional 517 shares during the last quarter. Finally, Harbour Investments Inc. boosted 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 during the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Shares of ELY opened at $19.71 on Thursday. The firm has a market cap of $3.64 billion, a PE ratio of 28.99, a P/E/G ratio of 1.50 and a beta of 1.84. The company has a current ratio of 1.21, a quick ratio of 0.74 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $22.16 and a 200-day moving average price of $24.52. Callaway Golf has a 12 month low of $17.78 and a 12 month high of $37.75.

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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