Callaway Golf (ELY) Updates FY18 Earnings Guidance

Callaway Golf (NYSE:ELY) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.64-$0.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.64. The company issued revenue guidance of $1.115-$1.135 billion, compared to the consensus revenue estimate of $1.12 billion.Callaway Golf also updated its Q1 guidance to $0.48-$0.52 EPS.

Several research firms have recently commented on ELY. B. Riley reaffirmed a buy rating on shares of Callaway Golf in a research report on Wednesday, November 1st. Roth Capital set a $17.00 price target on shares of Callaway Golf and gave the company a buy rating in a research report on Monday. Compass Point raised shares of Callaway Golf from a sell rating to a neutral rating and upped their price target for the company from $13.50 to $14.59 in a research report on Wednesday. Jefferies Group reaffirmed a buy rating and set a $21.00 price target on shares of Callaway Golf in a research report on Thursday. Finally, Cowen raised shares of Callaway Golf from a sell rating to a neutral rating and set a $14.00 price target for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Callaway Golf has an average rating of Buy and a consensus price target of $16.40.

Callaway Golf (ELY) opened at $15.12 on Friday. The stock has a market capitalization of $1,396.30, a P/E ratio of 27.35, a P/E/G ratio of 1.55 and a beta of 1.15. Callaway Golf has a 52 week low of $9.99 and a 52 week high of $15.95.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. The company had revenue of $192.00 million during the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a return on equity of 7.87% and a net margin of 3.89%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. equities analysts expect that Callaway Golf will post 0.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. Callaway Golf’s dividend payout ratio (DPR) is presently 9.30%.

In related news, insider Alex Mitchell Boezeman sold 16,738 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $15.31, for a total transaction of $256,258.78. Following the completion of the transaction, the insider now directly owns 120,873 shares in the company, valued at approximately $1,850,565.63. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Neil Howie sold 24,838 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $15.75, for a total value of $391,198.50. Following the transaction, the insider now owns 95,803 shares of the company’s stock, valued at $1,508,897.25. The disclosure for this sale can be found here. Insiders own 2.59% of the company’s stock.

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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 its trademarks and service marks and sales of pre-owned golf clubs.

Earnings History and Estimates for Callaway Golf (NYSE:ELY)

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