Callaway Golf Co (ELY) Expected to Earn Q2 2019 Earnings of $0.48 Per Share

Callaway Golf Co (NYSE:ELY) – Research analysts at KeyCorp issued their Q2 2019 earnings per share (EPS) estimates for shares of Callaway Golf in a report issued on Wednesday, January 9th. KeyCorp analyst B. Andress expects that the company will earn $0.48 per share for the quarter. KeyCorp also issued estimates for Callaway Golf’s Q3 2019 earnings at $0.16 EPS, Q4 2019 earnings at ($0.10) EPS and FY2019 earnings at $1.15 EPS.

A number of other brokerages have also issued reports on ELY. Cowen lifted their target price on Callaway Golf from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Friday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $27.00 target price on shares of Callaway Golf in a research report on Thursday, September 27th. Jefferies Financial Group reissued a “buy” rating and issued a $26.00 target price on shares of Callaway Golf in a research report on Monday, October 29th. ValuEngine lowered Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, B. Riley set a $30.00 target price on Callaway Golf and gave the company a “buy” rating in a research report on Sunday, December 2nd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.42.

Shares of Callaway Golf stock opened at $16.33 on Friday. Callaway Golf has a 52-week low of $13.75 and a 52-week high of $24.67. The company has a market capitalization of $1.57 billion, a P/E ratio of 30.81, a PEG ratio of 0.61 and a beta of 1.06. The company has a current ratio of 2.28, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.09. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. The business had revenue of $262.65 million for the quarter, compared to analysts’ expectations of $250.83 million.

Large investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC acquired a new position in shares of Callaway Golf during the 3rd quarter worth approximately $201,000. Everence Capital Management Inc. acquired a new position in shares of Callaway Golf during the 3rd quarter worth approximately $211,000. Ibex Investors LLC acquired a new position in shares of Callaway Golf during the 3rd quarter worth approximately $218,000. Bank of The West acquired a new position in shares of Callaway Golf during the 3rd quarter worth approximately $234,000. Finally, We Are One Seven LLC acquired a new position in shares of Callaway Golf during the 3rd quarter worth approximately $255,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Callaway Golf Company Profile

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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