Callaway Golf Co (NYSE:ELY) – B. Riley lowered their FY2019 earnings estimates for Callaway Golf in a note issued to investors on Thursday, February 7th. B. Riley analyst S. Anderson now forecasts that the company will post earnings per share of $0.98 for the year, down from their prior estimate of $1.09. B. Riley currently has a “Buy” rating and a $30.00 target price on the stock. B. Riley also issued estimates for Callaway Golf’s FY2020 earnings at $1.16 EPS.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, February 6th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. The company had revenue of $181.00 million for the quarter, compared to analyst estimates of $176.35 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year.
ELY has been the topic of several other research reports. Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 18th. Zacks Investment Research upgraded Callaway Golf from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Stephens assumed coverage on Callaway Golf in a research report on Tuesday, January 8th. They set an “equal weight” rating and a $17.00 target price on the stock. Raymond James restated a “hold” rating on shares of Callaway Golf in a research report on Wednesday, December 5th. Finally, Roth Capital lowered Callaway Golf from a “buy” rating to a “hold” rating and cut their target price for the company from $24.00 to $17.00 in a research report on Monday, December 17th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Callaway Golf currently has a consensus rating of “Hold” and a consensus target price of $22.17.
Shares of Callaway Golf stock opened at $15.17 on Friday. Callaway Golf has a one year low of $14.44 and a one year high of $24.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.28. The stock has a market cap of $1.55 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.62 and a beta of 1.03.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 14th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Wednesday, February 13th. Callaway Golf’s dividend payout ratio (DPR) is currently 3.74%.
Hedge funds have recently bought and sold shares of the stock. Massey Quick Simon & CO. LLC raised its stake in Callaway Golf by 50.0% during the 4th quarter. Massey Quick Simon & CO. LLC now owns 2,383 shares of the company’s stock worth $36,000 after buying an additional 794 shares during the period. Pearl River Capital LLC acquired a new position in Callaway Golf during the 4th quarter worth approximately $74,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Callaway Golf by 26.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock worth $100,000 after buying an additional 1,376 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Callaway Golf during the 3rd quarter worth approximately $201,000. Finally, Everence Capital Management Inc. acquired a new position in Callaway Golf during the 3rd quarter worth approximately $211,000. 88.27% 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 in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.
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