Callaway Golf Co (NYSE:ELY) Expected to Post Quarterly Sales of $264.74 Million

Wall Street analysts forecast that Callaway Golf Co (NYSE:ELY) will report sales of $264.74 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Callaway Golf’s earnings, with estimates ranging from $203.50 million to $330.00 million. Callaway Golf reported sales of $446.71 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 40.7%. The company is expected to issue its next earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Callaway Golf will report full year sales of $1.38 billion for the current fiscal year, with estimates ranging from $1.30 billion to $1.52 billion. For the next year, analysts expect that the business will report sales of $1.59 billion, with estimates ranging from $1.49 billion to $1.62 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Callaway Golf.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share 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 business had revenue of $442.28 million during the quarter, compared to the consensus estimate of $440.70 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue was down 14.3% compared to the same quarter last year.

Several brokerages recently weighed in on ELY. Roth Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Callaway Golf in a report on Thursday, March 5th. Imperial Capital began coverage on Callaway Golf in a report on Wednesday, January 29th. They set an “outperform” rating and a $26.00 price target for the company. Raymond James decreased their price target on Callaway Golf from $15.50 to $14.50 and set an “outperform” rating for the company in a report on Friday, May 8th. Berenberg Bank reaffirmed a “buy” rating and set a $26.00 price target on shares of Callaway Golf in a report on Sunday, February 16th. Finally, ValuEngine raised Callaway Golf from a “sell” rating to a “hold” rating in a report on Tuesday, March 24th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and an average price target of $20.18.

Several hedge funds have recently made changes to their positions in ELY. Franklin Resources Inc. increased its position in shares of Callaway Golf by 14,433.5% in the first quarter. Franklin Resources Inc. now owns 1,671,787 shares of the company’s stock valued at $17,086,000 after buying an additional 1,660,284 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Callaway Golf by 73.0% in the first quarter. TimesSquare Capital Management LLC now owns 3,352,580 shares of the company’s stock valued at $34,263,000 after buying an additional 1,414,470 shares in the last quarter. Norges Bank purchased a new position in shares of Callaway Golf in the fourth quarter valued at $20,674,000. Ziegler Capital Management LLC purchased a new position in shares of Callaway Golf in the first quarter valued at $7,246,000. Finally, Point72 Asset Management L.P. increased its position in shares of Callaway Golf by 147.1% in the fourth quarter. Point72 Asset Management L.P. now owns 1,165,717 shares of the company’s stock valued at $24,713,000 after buying an additional 693,978 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

Shares of NYSE ELY traded up $0.36 during mid-day trading on Monday, hitting $14.94. 1,254,936 shares of the company were exchanged, compared to its average volume of 2,864,156. The company has a quick ratio of 0.80, a current ratio of 1.44 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $11.91 and a 200-day simple moving average of $17.05. Callaway Golf has a 1-year low of $4.75 and a 1-year high of $22.33. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 24.49 and a beta of 1.97.

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

Callaway Golf Company Profile

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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