$264.74 Million in Sales Expected for Callaway Golf Co (NYSE:ELY) This Quarter

Wall Street analysts forecast that Callaway Golf Co (NYSE:ELY) will announce sales of $264.74 million for the current quarter, Zacks reports. Six analysts have provided estimates for Callaway Golf’s earnings. The highest sales estimate is $330.00 million and the lowest is $203.50 million. Callaway Golf posted sales of $446.71 million during the same quarter last year, which suggests a negative year-over-year growth rate of 40.7%. The firm is expected to announce its next quarterly earnings report on Thursday, August 13th.

According to Zacks, analysts expect that Callaway Golf will report full year sales of $1.38 billion for the current financial year, with estimates ranging from $1.30 billion to $1.52 billion. For the next financial year, analysts expect that the business will post sales of $1.59 billion, with estimates ranging from $1.49 billion to $1.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Callaway Golf.

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

ELY has been the topic of several recent analyst reports. Raymond James cut their price objective on shares of Callaway Golf from $15.50 to $14.50 and set an “outperform” rating on the stock in a report on Friday, May 8th. SunTrust Banks increased their price objective on shares of Callaway Golf from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a report on Friday, April 24th. Cowen increased their price objective on shares of Callaway Golf from $9.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Compass Point cut their price objective on shares of Callaway Golf from $20.00 to $17.50 and set a “buy” rating on the stock in a report on Monday, May 11th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.18.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan grew its position in Callaway Golf by 2.0% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 28,800 shares of the company’s stock valued at $611,000 after acquiring an additional 570 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Callaway Golf by 1.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,960 shares of the company’s stock valued at $784,000 after acquiring an additional 626 shares in the last quarter. Victory Capital Management Inc. grew its position in Callaway Golf by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 15,414 shares of the company’s stock valued at $327,000 after acquiring an additional 681 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Callaway Golf by 22.5% in the first quarter. Mutual of America Capital Management LLC now owns 4,133 shares of the company’s stock valued at $42,000 after acquiring an additional 760 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in Callaway Golf by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 32,778 shares of the company’s stock valued at $695,000 after acquiring an additional 828 shares in the last quarter. 95.77% of the stock is owned by hedge funds and other institutional investors.

NYSE:ELY traded up $0.36 on Monday, reaching $14.94. The stock had a trading volume of 1,254,936 shares, compared to its average volume of 1,586,463. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 24.49 and a beta of 1.97. 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 firm’s fifty day moving average is $12.23 and its two-hundred day moving average is $16.98. Callaway Golf has a 12-month low of $4.75 and a 12-month high of $22.33.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors 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 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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