$507.17 Million in Sales Expected for Callaway Golf (NYSE:ELY) This Quarter


Share on StockTwits

Equities research analysts expect Callaway Golf (NYSE:ELY) to announce sales of $507.17 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Callaway Golf’s earnings. The lowest sales estimate is $491.90 million and the highest is $526.50 million. Callaway Golf posted sales of $442.28 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The company is expected to issue its next earnings report on Thursday, May 6th.

On average, analysts expect that Callaway Golf will report full-year sales of $1.76 billion for the current fiscal year, with estimates ranging from $1.75 billion to $1.79 billion. For the next year, analysts anticipate that the firm will report sales of $1.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Callaway Golf.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Tuesday, February 9th. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.13). The firm had revenue of $375.00 million during the quarter, compared to analysts’ expectations of $337.40 million. Callaway Golf had a negative net margin of 7.57% and a positive return on equity of 9.87%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) EPS.

Several equities research analysts have commented on the stock. Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research note on Monday, December 21st. Berenberg Bank assumed coverage on shares of Callaway Golf in a research report on Wednesday, October 28th. They set a “buy” rating and a $23.00 target price for the company. KeyCorp increased their target price on shares of Callaway Golf from $28.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, February 12th. Zacks Investment Research downgraded shares of Callaway Golf from a “buy” rating to a “sell” rating in a research report on Monday, February 15th. Finally, Raymond James increased their target price on shares of Callaway Golf from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.27.

In related news, EVP Glenn F. Hickey sold 6,148 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $22.37, for a total value of $137,530.76. Following the completion of the transaction, the executive vice president now directly owns 23,618 shares of the company’s stock, valued at approximately $528,334.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Glenn F. Hickey sold 7,919 shares of the firm’s stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $23.11, for a total transaction of $183,008.09. 2.19% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in ELY. Steward Partners Investment Advisory LLC boosted its holdings in Callaway Golf by 333.3% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the period. Oder Investment Management LLC bought a new position in Callaway Golf in the 4th quarter valued at $26,000. Vantage Consulting Group Inc bought a new position in Callaway Golf in the 4th quarter valued at $42,000. Nisa Investment Advisors LLC bought a new position in Callaway Golf in the 3rd quarter valued at $49,000. Finally, Veriti Management LLC bought a new position in Callaway Golf in the 4th quarter valued at $77,000.

NYSE:ELY traded up $0.36 on Tuesday, hitting $27.73. The stock had a trading volume of 2,235,472 shares, compared to its average volume of 2,031,208. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.62 and a current ratio of 2.49. The stock has a market cap of $2.61 billion, a P/E ratio of -21.90 and a beta of 2.16. Callaway Golf has a 1 year low of $4.75 and a 1 year high of $32.59. The firm’s fifty day simple moving average is $28.26 and its two-hundred day simple moving average is $22.11.

Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, gear, and other products. It operates through two segments, Golf Equipment; and Apparel, Gear and Other. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brand names.

See Also: What are the benefits of investing in REITs?

Get a free copy of the Zacks research report on Callaway Golf (ELY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.