Callaway Golf Company (NYSE:ELY) – Equities research analysts at Jefferies Group decreased their Q4 2017 earnings per share (EPS) estimates for Callaway Golf in a research report issued to clients and investors on Thursday. Jefferies Group analyst R. Konik now forecasts that the company will earn ($0.14) per share for the quarter, down from their prior forecast of ($0.13). Jefferies Group currently has a “Buy” rating and a $19.00 target price on the stock. Jefferies Group also issued estimates for Callaway Golf’s Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.08 EPS and Q4 2018 earnings at ($0.15) EPS.
Several other analysts also recently weighed in on the company. Aegis reiterated a “buy” rating on shares of Callaway Golf in a research report on Monday, September 4th. KeyCorp reiterated an “overweight” rating and issued a $16.00 price objective on shares of Callaway Golf in a research report on Wednesday, August 30th. BidaskClub upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $16.00 price objective on shares of Callaway Golf in a research report on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Callaway Golf currently has a consensus rating of “Buy” and an average target price of $15.67.
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Callaway Golf (ELY) traded down 0.35% on Monday, hitting $14.38. The stock had a trading volume of 303,320 shares. Callaway Golf has a 52-week low of $9.77 and a 52-week high of $15.63. The firm’s 50-day moving average is $14.23 and its 200-day moving average is $13.10. The company has a market cap of $1.36 billion, a P/E ratio of 7.95 and a beta of 1.17.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $243.60 million during the quarter, compared to analyst estimates of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS.
Several institutional investors have recently made changes to their positions in ELY. BlackRock Inc. raised its holdings in shares of Callaway Golf by 56,247.6% during the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after acquiring an additional 11,679,804 shares in the last quarter. Daruma Capital Management LLC bought a new position in shares of Callaway Golf during the second quarter valued at approximately $48,831,000. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Callaway Golf during the second quarter valued at approximately $10,707,000. Dimensional Fund Advisors LP raised its holdings in shares of Callaway Golf by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,392,982 shares of the company’s stock valued at $81,702,000 after acquiring an additional 603,742 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Callaway Golf during the second quarter valued at approximately $5,934,000. Institutional investors own 88.99% of the company’s stock.
In related news, SVP Alan Hocknell sold 57,138 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $13.30, for a total transaction of $759,935.40. Following the completion of the transaction, the senior vice president now owns 115,045 shares in the company, valued at $1,530,098.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer L. Thomas sold 8,503 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $14.95, for a total value of $127,119.85. Following the transaction, the insider now owns 28,143 shares of the company’s stock, valued at approximately $420,737.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,893 shares of company stock valued at $4,016,299. 2.59% of the stock is owned by corporate insiders.
About Callaway Golf
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 its trademarks and service marks and sales of pre-owned golf clubs.
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