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 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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