Callaway Golf Co (NYSE:ELY) – Research analysts at B. Riley dropped their Q3 2019 earnings per share estimates for shares of Callaway Golf in a research report issued on Friday, August 9th. B. Riley analyst S. Anderson now anticipates that the company will post earnings per share of $0.24 for the quarter, down from their prior estimate of $0.36. B. Riley has a “Buy” rating and a $30.00 price objective on the stock.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 4.17% and a return on equity of 10.00%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share.

Several other equities research analysts also 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 research report on Friday, August 9th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 12th. Berenberg Bank restated a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a research report on Sunday, May 12th. ValuEngine downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Roth Capital set a $19.00 price objective on shares of Callaway Golf and gave the stock a “hold” rating in a research report on Thursday, June 13th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Callaway Golf currently has a consensus rating of “Buy” and a consensus price target of $23.28.

Shares of ELY stock opened at $18.43 on Monday. The stock’s 50 day moving average is $17.97. 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 firm has a market capitalization of $1.74 billion, a P/E ratio of 17.22, a PEG ratio of 0.71 and a beta of 1.24. Callaway Golf has a 12-month low of $14.44 and a 12-month high of $24.67.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. Callaway Golf’s payout ratio is 3.74%.

In other news, EVP Richard H. Arnett sold 13,137 shares of Callaway Golf 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 sale, 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 SEC, which can be accessed through this link. Also, Director Russell L. Fleischer purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was acquired 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 owns 15,859 shares of the company’s stock, valued at approximately $233,920.25. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 21,575 shares of company stock valued at $324,630. 1.97% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in shares of Callaway Golf by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 35,004 shares of the company’s stock valued at $601,000 after buying an additional 600 shares in the last quarter. Boston Advisors LLC increased its stake in Callaway Golf by 0.6% in the first quarter. Boston Advisors LLC now owns 97,326 shares of the company’s stock valued at $1,550,000 after acquiring an additional 621 shares during the last quarter. Massey Quick Simon & CO. LLC increased its stake in Callaway Golf by 30.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock valued at $49,000 after acquiring an additional 714 shares during the last quarter. Legal & General Group Plc increased its stake in Callaway Golf by 0.3% in the fourth quarter. Legal & General Group Plc now owns 211,822 shares of the company’s stock valued at $3,240,000 after acquiring an additional 738 shares during the last quarter. Finally, Meadow Creek Investment Management LLC increased its stake in Callaway Golf by 8.7% in the second quarter. Meadow Creek Investment Management LLC now owns 9,968 shares of the company’s stock valued at $171,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 88.86% of the company’s stock.

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.

Read More: What is an overbought condition?

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.