Callaway Golf Co (NYSE:ELY) – Equities researchers at Jefferies Financial Group dropped their FY2019 earnings per share (EPS) estimates for Callaway Golf in a research report issued to clients and investors on Thursday, February 7th. Jefferies Financial Group analyst R. Konik now anticipates that the company will post earnings of $1.01 per share for the year, down from their prior forecast of $1.11. Jefferies Financial Group currently has a “Buy” rating and a $26.00 target price on the stock.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, February 6th. The company reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32). The firm had revenue of $181.00 million during the quarter, compared to the consensus estimate of $176.35 million. Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) earnings per share.
A number of other equities research analysts also recently weighed in on ELY. ValuEngine downgraded Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. B. Riley set a $30.00 target price on Callaway Golf and gave the stock a “buy” rating in a research report on Sunday, December 2nd. Raymond James restated a “hold” rating on shares of Callaway Golf in a research report on Wednesday, December 5th. Roth Capital downgraded Callaway Golf from a “buy” rating to a “hold” rating and cut their target price for the stock from $24.00 to $17.00 in a research report on Monday, December 17th. Finally, Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 18th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Callaway Golf currently has an average rating of “Hold” and an average price target of $22.17.
ELY opened at $15.17 on Monday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.73 and a quick ratio of 0.62. Callaway Golf has a 1-year low of $14.44 and a 1-year high of $24.67.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Callaway Golf by 0.6% during the 4th quarter. BlackRock Inc. now owns 13,292,414 shares of the company’s stock valued at $203,375,000 after acquiring an additional 80,255 shares during the last quarter. Vanguard Group Inc raised its stake in Callaway Golf by 35.7% during the 3rd quarter. Vanguard Group Inc now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after purchasing an additional 1,929,680 shares during the period. Vanguard Group Inc. raised its stake in Callaway Golf by 35.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after purchasing an additional 1,929,680 shares during the period. Northern Trust Corp raised its stake in Callaway Golf by 2.9% during the 2nd quarter. Northern Trust Corp now owns 2,184,677 shares of the company’s stock valued at $41,443,000 after purchasing an additional 60,759 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Callaway Golf by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock valued at $39,143,000 after purchasing an additional 4,130 shares during the period. Institutional investors own 88.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 14th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, 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 3.74%.
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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