Callaway Golf Co. (NYSE:ELY) – Analysts at FBR & Co issued their Q1 2017 earnings per share estimates for Callaway Golf in a research note issued on Wednesday. FBR & Co analyst S. Anderson forecasts that the firm will post earnings of $0.30 per share for the quarter. FBR & Co has a “Outperform” rating and a $12.00 price objective on the stock. FBR & Co also issued estimates for Callaway Golf’s Q2 2017 earnings at $0.19 EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at $0.34 EPS and FY2018 earnings at $0.39 EPS.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, July 27th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Callaway Golf had a net margin of 4.53% and a return on equity of 8.69%. The business earned $245.60 million during the quarter, compared to the consensus estimate of $242.49 million. During the same quarter last year, the firm earned $0.15 earnings per share. Callaway Golf’s quarterly revenue was up 6.6% on a year-over-year basis.
A number of other equities research analysts have also recently issued reports on ELY. Roth Capital set a $13.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research note on Saturday, September 17th. TheStreet raised shares of Callaway Golf from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Forward View reaffirmed a “buy” rating on shares of Callaway Golf in a research note on Sunday, July 24th. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday. Finally, Compass Point began coverage on shares of Callaway Golf in a research note on Friday, September 9th. They issued a “neutral” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Callaway Golf presently has an average rating of “Buy” and a consensus price target of $13.21.
Shares of Callaway Golf (NYSE:ELY) traded up 0.64% during trading on Thursday, reaching $11.00. 65,698 shares of the company were exchanged. The stock has a 50-day moving average price of $11.44 and a 200-day moving average price of $10.41. The stock has a market capitalization of $1.03 billion, a PE ratio of 27.85 and a beta of 1.30. Callaway Golf has a one year low of $8.00 and a one year high of $11.90.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Silver Capital Management LLC acquired a new stake in Callaway Golf during the second quarter worth $102,000. Amalgamated Bank acquired a new stake in Callaway Golf during the second quarter worth $129,000. Airain ltd acquired a new stake in Callaway Golf during the second quarter worth $119,000. PineBridge Investments L.P. increased its stake in Callaway Golf by 4.0% in the second quarter. PineBridge Investments L.P. now owns 11,914 shares of the company’s stock worth $121,000 after buying an additional 457 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Callaway Golf during the first quarter worth $112,000. Institutional investors and hedge funds own 84.34% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.04 annualized dividend and a yield of 0.37%. Callaway Golf’s dividend payout ratio (DPR) is presently 10.26%.
Callaway Golf Company Profile
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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