Analysts Expect Callaway Golf Co (NYSE:ELY) Will Announce Earnings of -$0.11 Per Share

Brokerages expect Callaway Golf Co (NYSE:ELY) to report earnings per share (EPS) of ($0.11) for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Callaway Golf’s earnings. The lowest EPS estimate is ($0.42) and the highest is $0.13. Callaway Golf reported earnings of $0.37 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 129.7%. The firm is expected to announce its next earnings results on Thursday, August 13th.

On average, analysts expect that Callaway Golf will report full year earnings of $0.41 per share for the current financial year, with EPS estimates ranging from ($0.20) to $1.15. For the next fiscal year, analysts forecast that the firm will report earnings of $0.81 per share, with EPS estimates ranging from $0.60 to $1.05. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Callaway Golf had a return on equity of 9.95% and a net margin of 3.67%. The firm had revenue of $442.28 million for the quarter, compared to the consensus estimate of $440.70 million. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue for the quarter was down 14.3% on a year-over-year basis.

A number of analysts recently issued reports on the company. ValuEngine raised Callaway Golf from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Raymond James lowered their target price on Callaway Golf from $15.50 to $14.50 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Roth Capital reaffirmed a “buy” rating and issued a $21.00 target price on shares of Callaway Golf in a research report on Thursday, March 5th. Compass Point lowered their target price on Callaway Golf from $20.00 to $17.50 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, SunTrust Banks lifted their target price on Callaway Golf from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Callaway Golf presently has an average rating of “Buy” and a consensus price target of $20.18.

A number of hedge funds and other institutional investors have recently made changes to their positions in ELY. TRUE Private Wealth Advisors bought a new stake in shares of Callaway Golf during the first quarter worth approximately $28,000. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Callaway Golf during the fourth quarter worth approximately $29,000. Islay Capital Management LLC bought a new stake in shares of Callaway Golf during the fourth quarter worth approximately $34,000. Mutual of America Capital Management LLC boosted its holdings in shares of Callaway Golf by 22.5% during the first quarter. Mutual of America Capital Management LLC now owns 4,133 shares of the company’s stock worth $42,000 after acquiring an additional 760 shares during the period. Finally, Atwood & Palmer Inc. bought a new stake in shares of Callaway Golf during the first quarter worth approximately $51,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ELY traded up $0.36 during midday trading on Friday, hitting $14.94. The stock had a trading volume of 1,254,936 shares, compared to its average volume of 2,864,156. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.44 and a quick ratio of 0.80. The company has a 50 day simple moving average of $11.91 and a two-hundred day simple moving average of $17.05. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 24.49 and a beta of 1.97. Callaway Golf has a twelve month low of $4.75 and a twelve month high of $22.33.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, May 26th. Callaway Golf’s dividend payout ratio (DPR) is presently 3.64%.

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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Earnings History and Estimates for Callaway Golf (NYSE:ELY)

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