Callaway Golf Co (NYSE:ELY) – Investment analysts at SunTrust Banks lifted their Q1 2018 earnings per share estimates for shares of Callaway Golf in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Swartz now expects that the company will earn $0.50 per share for the quarter, up from their prior estimate of $0.38. SunTrust Banks currently has a “Buy” rating and a $17.00 target price on the stock. SunTrust Banks also issued estimates for Callaway Golf’s Q2 2018 earnings at $0.36 EPS, FY2018 earnings at $0.70 EPS and FY2019 earnings at $0.80 EPS.

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, topping the consensus estimate of ($0.17) by $0.02. The firm 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 7.85% and a net margin of 3.89%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS.

A number of other equities research analysts also recently weighed in on ELY. KeyCorp set a $16.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Saturday, October 21st. Cowen set a $14.00 price target on Callaway Golf and gave the stock a “hold” rating in a research note on Tuesday, October 24th. FBR & Co set a $16.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Jefferies Group set a $19.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Friday, October 27th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Callaway Golf has an average rating of “Buy” and an average target price of $16.40.

Shares of Callaway Golf (ELY) opened at $14.80 on Friday. Callaway Golf has a one year low of $9.99 and a one year high of $15.95. The firm has a market capitalization of $1,429.39, a PE ratio of 34.42, a PEG ratio of 1.50 and a beta of 1.15.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, February 13th. Callaway Golf’s dividend payout ratio is 9.30%.

In other news, SVP Brian P. Lynch sold 25,911 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $14.84, for a total transaction of $384,519.24. Following the transaction, the senior vice president now owns 31,599 shares of the company’s stock, valued at approximately $468,929.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Neil Howie sold 24,838 shares of the stock in a transaction dated 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 directly owns 95,803 shares in the company, valued at approximately $1,508,897.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,487 shares of company stock worth $1,031,977. 2.59% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ELY. Copper Rock Capital Partners LLC increased its holdings in shares of Callaway Golf by 24.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after acquiring an additional 483,441 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Callaway Golf during the 4th quarter valued at about $5,760,000. BlackRock Inc. increased its holdings in shares of Callaway Golf by 3.0% during the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after acquiring an additional 351,863 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Callaway Golf by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after acquiring an additional 240,520 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Callaway Golf by 165.2% during the 2nd quarter. New York State Common Retirement Fund now owns 333,367 shares of the company’s stock valued at $4,260,000 after acquiring an additional 207,658 shares during the last quarter. 89.58% of the stock is currently owned by institutional investors and hedge funds.

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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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