Q1 2020 EPS Estimates for Callaway Golf Co Lowered by Analyst (NYSE:ELY)

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Callaway Golf Co (NYSE:ELY) – Research analysts at B. Riley lowered their Q1 2020 earnings per share (EPS) estimates for Callaway Golf in a note issued to investors on Tuesday, February 11th. B. Riley analyst S. Anderson now anticipates that the company will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.67. B. Riley currently has a “Buy” rating and a $30.00 target price on the stock. B. Riley also issued estimates for Callaway Golf’s Q4 2020 earnings at ($0.20) EPS.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). Callaway Golf had a return on equity of 13.84% and a net margin of 4.67%. The business had revenue of $312.00 million during the quarter, compared to the consensus estimate of $305.49 million. During the same period last year, the company earned ($0.32) EPS. The business’s revenue was up 72.7% on a year-over-year basis.

ELY has been the subject of several other reports. Raymond James lowered their price objective on Callaway Golf from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday. Zacks Investment Research downgraded Callaway Golf from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. TheStreet downgraded Callaway Golf from a “b” rating to a “c+” rating in a report on Monday, February 10th. Compass Point set a $21.50 price objective on Callaway Golf and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, ValuEngine downgraded Callaway Golf from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $23.81.

Shares of Callaway Golf stock opened at $19.46 on Thursday. The stock has a 50 day moving average of $21.26 and a 200 day moving average of $19.94. Callaway Golf has a 12 month low of $14.49 and a 12 month high of $22.33. The firm has a market cap of $1.83 billion, a PE ratio of 24.02, a PEG ratio of 0.68 and a beta of 1.32. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74.

A number of large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan increased its stake in Callaway Golf by 2.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 28,800 shares of the company’s stock worth $611,000 after buying an additional 570 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Callaway Golf by 1.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 36,960 shares of the company’s stock worth $784,000 after buying an additional 626 shares in the last quarter. Victory Capital Management Inc. increased its stake in Callaway Golf by 4.6% during the 4th quarter. Victory Capital Management Inc. now owns 15,414 shares of the company’s stock worth $327,000 after buying an additional 681 shares in the last quarter. First Mercantile Trust Co. increased its stake in Callaway Golf by 13.9% during the 3rd quarter. First Mercantile Trust Co. now owns 6,835 shares of the company’s stock worth $133,000 after buying an additional 833 shares in the last quarter. Finally, Argent Capital Management LLC increased its stake in Callaway Golf by 0.4% during the 4th quarter. Argent Capital Management LLC now owns 243,160 shares of the company’s stock worth $5,155,000 after buying an additional 925 shares in the last quarter. Institutional investors own 99.77% of the company’s stock.

In related news, EVP Glenn F. Hickey sold 24,595 shares of Callaway Golf stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.81, for a total value of $536,416.95. Following the completion of the transaction, the executive vice president now owns 8,552 shares in the company, valued at approximately $186,519.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.97% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Callaway Golf’s payout ratio is currently 3.64%.

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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