Callaway Golf Co to Post Q1 2020 Earnings of $0.45 Per Share, SunTrust Banks Forecasts (NYSE:ELY)

Callaway Golf Co (NYSE:ELY) – Investment analysts at SunTrust Banks dropped their Q1 2020 earnings estimates for Callaway Golf in a report released on Monday, February 10th. SunTrust Banks analyst M. Swartz now expects that the company will post earnings per share of $0.45 for the quarter, down from their previous forecast of $0.61. SunTrust Banks also issued estimates for Callaway Golf’s Q4 2020 earnings at ($0.19) EPS, FY2020 earnings at $1.00 EPS and FY2021 earnings at $1.25 EPS.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The firm had revenue of $312.00 million during the quarter, compared to analysts’ expectations of $305.49 million. Callaway Golf had a net margin of 4.67% and a return on equity of 13.84%. The firm’s revenue for the quarter was up 72.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS.

A number of other analysts have also weighed in on the company. Zacks Investment Research lowered Callaway Golf from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. B. Riley restated a “buy” rating and set a $30.00 target price on shares of Callaway Golf in a report on Tuesday. Stephens restated a “buy” rating and set a $25.00 target price on shares of Callaway Golf in a report on Monday, December 2nd. Raymond James lowered their target price on Callaway Golf from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Compass Point set a $21.50 target price on Callaway Golf and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.81.

Callaway Golf stock opened at $19.46 on Thursday. The business has a fifty day moving average of $21.26 and a two-hundred day moving average of $19.94. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.83 billion, a P/E ratio of 24.02, a P/E/G ratio of 0.68 and a beta of 1.32. Callaway Golf has a twelve month low of $14.49 and a twelve month high of $22.33.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Callaway Golf’s dividend payout ratio is currently 3.64%.

In other news, EVP Glenn F. Hickey sold 24,595 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.81, for a total transaction of $536,416.95. Following the transaction, the executive vice president now directly owns 8,552 shares of the company’s stock, valued at $186,519.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.97% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Boston Advisors LLC increased its position in shares of Callaway Golf by 48.5% during the third quarter. Boston Advisors LLC now owns 81,638 shares of the company’s stock worth $1,585,000 after purchasing an additional 26,660 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of Callaway Golf in the 3rd quarter valued at $262,000. Millennium Management LLC increased its position in shares of Callaway Golf by 9,204.5% in the 3rd quarter. Millennium Management LLC now owns 1,164,645 shares of the company’s stock valued at $22,605,000 after acquiring an additional 1,152,128 shares during the period. Wealthstreet Investment Advisors LLC acquired a new position in shares of Callaway Golf in the 4th quarter valued at $318,000. Finally, Mason Street Advisors LLC increased its position in shares of Callaway Golf by 8.3% in the 3rd quarter. Mason Street Advisors LLC now owns 31,950 shares of the company’s stock valued at $620,000 after acquiring an additional 2,441 shares during the period. 99.77% of the stock is currently owned by institutional investors and hedge funds.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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