Callaway Golf (NYSE:ELY) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.11 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33. The company issued revenue guidance of $412-422 million, compared to the consensus revenue estimate of $424.87 million.Callaway Golf also updated its FY19 guidance to $1.03-1.09 EPS.
A number of analysts recently issued reports on the stock. Stephens upgraded shares of Callaway Golf from an equal rating to a weight rating and raised their price objective for the stock from $18.00 to $21.50 in a report on Friday. ValuEngine downgraded shares of Callaway Golf from a buy rating to a hold rating in a report on Thursday, August 1st. Roth Capital set a $19.00 target price on shares of Callaway Golf and gave the stock a hold rating in a research note on Thursday, June 13th. B. Riley set a $30.00 target price on shares of Callaway Golf and gave the stock a buy rating in a research note on Friday, July 19th. Finally, Berenberg Bank reiterated a buy rating and issued a $24.00 target price on shares of Callaway Golf in a research note on Sunday, May 12th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $23.28.
ELY opened at $18.83 on Friday. The stock has a market capitalization of $1.60 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85. The stock has a 50-day simple moving average of $17.94. Callaway Golf has a twelve month low of $14.44 and a twelve month high of $24.67.
Callaway Golf (NYSE:ELY) last posted its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.12. The firm had revenue of $446.71 million during the quarter, compared to the consensus estimate of $430.12 million. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. On average, research analysts expect that Callaway Golf will post 1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Callaway Golf’s payout ratio is 3.74%.
In other news, EVP Richard H. Arnett sold 13,137 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $20.00, for a total value of $262,740.00. Following the completion of the transaction, the executive vice president now directly owns 31,276 shares in the company, valued at $625,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Russell L. Fleischer acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $14.75 per share, with a total value of $73,750.00. Following the completion of the transaction, the director now directly owns 15,859 shares of the company’s stock, valued at approximately $233,920.25. The disclosure for this purchase can be found here. Insiders bought 21,575 shares of company stock valued at $324,630 in the last quarter. Corporate insiders own 1.97% of the company’s stock.
About Callaway Golf
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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