Callaway Golf Co (NYSE:ELY) – Equities research analysts at Jefferies Group upped their Q1 2018 EPS estimates for shares of Callaway Golf in a research report issued on Thursday. Jefferies Group analyst R. Konik now anticipates that the company will post earnings of $0.52 per share for the quarter, up from their prior estimate of $0.37. Jefferies Group has a “Buy” rating and a $21.00 price objective on the stock. Jefferies Group also issued estimates for Callaway Golf’s Q4 2018 earnings at ($0.19) EPS.

ELY has been the topic of a number of other reports. Zacks Investment Research lowered Callaway Golf from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Roth Capital set a $17.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Monday, February 5th. FBR & Co set a $16.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Thursday, October 26th. Compass Point raised Callaway Golf from a “sell” rating to a “neutral” rating and raised their price target for the company from $13.50 to $14.59 in a report on Wednesday, February 7th. Finally, KeyCorp raised their price target on Callaway Golf from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Callaway Golf presently has a consensus rating of “Buy” and a consensus price target of $16.40.

Callaway Golf (NYSE ELY) opened at $14.80 on Monday. The company has a market capitalization of $1,399.13, a price-to-earnings ratio of 34.42, a PEG ratio of 1.46 and a beta of 1.15. Callaway Golf has a fifty-two week low of $9.99 and a fifty-two week high of $15.95.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The company had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $184.74 million. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted ($0.09) earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Investors 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 yield of 0.27%. The ex-dividend date of this dividend is Tuesday, February 13th. Callaway Golf’s payout ratio is currently 9.30%.

In related news, SVP Brian P. Lynch sold 25,911 shares of Callaway Golf 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 directly owns 31,599 shares of the company’s stock, valued at $468,929.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Neil Howie sold 24,838 shares of Callaway Golf stock in a transaction dated Thursday, February 8th. The stock was 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 $1,508,897.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,487 shares of company stock worth $1,031,977. 2.59% of the stock is owned by corporate insiders.

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

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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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