Callaway Golf (ELY) Posts Earnings Results, Beats Expectations By $0.14 EPS

Callaway Golf (NYSE:ELY) issued its quarterly earnings results on Thursday. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.14, Bloomberg Earnings reports. The business had revenue of $403.00 million during the quarter, compared to analyst estimates of $371.67 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Callaway Golf updated its Q2 guidance to $0.44-0.48 EPS and its FY18 guidance to $0.77-0.82 EPS.

Callaway Golf stock traded up $0.10 during mid-day trading on Thursday, reaching $16.80. The company’s stock had a trading volume of 901,073 shares, compared to its average volume of 946,568. The company has a market cap of $1,584.13, a PE ratio of 31.70, a P/E/G ratio of 1.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.48 and a quick ratio of 0.65. Callaway Golf has a twelve month low of $11.74 and a twelve month high of $17.75.

In other Callaway Golf news, insider Oliver G. Brewer III sold 25,721 shares of Callaway Golf stock in a transaction on Friday, April 6th. The shares were sold at an average price of $17.00, for a total value of $437,257.00. Following the completion of the transaction, the insider now owns 382,316 shares of the company’s stock, valued at $6,499,372. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian P. Lynch sold 25,911 shares of Callaway Golf stock in a transaction on Friday, February 9th. The stock was sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the transaction, the senior vice president now directly owns 31,599 shares of the company’s stock, valued at approximately $468,929.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,409 shares of company stock valued at $3,783,462. 2.59% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on ELY shares. TheStreet upgraded shares of Callaway Golf from a “c+” rating to a “b” rating in a research note on Wednesday, February 14th. Roth Capital set a $17.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Monday, February 5th. Jefferies Group restated a “buy” rating and issued a $21.00 price target on shares of Callaway Golf in a research note on Thursday, February 8th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, January 5th. Finally, DA Davidson set a $18.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Wednesday, December 27th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Callaway Golf has a consensus rating of “Buy” and a consensus target price of $16.97.

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.

Earnings History for Callaway Golf (NYSE:ELY)

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