Wall Street brokerages forecast that Callaway Golf Co (NYSE:ELY) will announce $306.45 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Callaway Golf’s earnings, with the lowest sales estimate coming in at $301.10 million and the highest estimate coming in at $313.98 million. Callaway Golf posted sales of $180.68 million during the same quarter last year, which indicates a positive year-over-year growth rate of 69.6%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 5th.
On average, analysts expect that Callaway Golf will report full year sales of $1.69 billion for the current year, with estimates ranging from $1.69 billion to $1.70 billion. For the next year, analysts forecast that the business will post sales of $1.78 billion, with estimates ranging from $1.75 billion to $1.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Callaway Golf.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.13. The business had revenue of $426.00 million for the quarter, compared to analyst estimates of $420.43 million. Callaway Golf had a net margin of 5.10% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of Callaway Golf in the second quarter valued at $34,000. Nisa Investment Advisors LLC acquired a new position in shares of Callaway Golf in the second quarter valued at $34,000. NEXT Financial Group Inc acquired a new position in shares of Callaway Golf in the third quarter valued at about $49,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Callaway Golf in the third quarter valued at about $60,000. Finally, First Mercantile Trust Co. acquired a new position in shares of Callaway Golf in the second quarter valued at about $103,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ELY stock remained flat at $$20.29 during trading on Friday. 570,753 shares of the stock were exchanged, compared to its average volume of 1,220,648. The firm’s 50 day moving average is $20.13 and its two-hundred day moving average is $18.10. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1.91 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 0.73 and a beta of 1.25. Callaway Golf has a twelve month low of $14.44 and a twelve month high of $21.54.
Callaway Golf announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.
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