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Callaway Golf Co Forecasted to Earn Q2 2019 Earnings of $0.26 Per Share (NYSE:ELY)

Callaway Golf Co (NYSE:ELY) – B. Riley cut their Q2 2019 earnings per share estimates for Callaway Golf in a report issued on Tuesday, July 16th. B. Riley analyst S. Anderson now forecasts that the company will post earnings of $0.26 per share for the quarter, down from their prior forecast of $0.37. B. Riley also issued estimates for Callaway Golf’s Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at ($0.23) EPS, FY2019 earnings at $1.02 EPS and FY2020 earnings at $1.19 EPS.

Get Callaway Golf alerts: Other equities research analysts have also recently issued research reports about the stock. Roth Capital set a $75.00 price target on shares of First Solar and gave the stock a “buy” rating in a research report on Thursday, June 13th. Zacks Investment Research cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Berenberg Bank restated a “buy” rating and issued a $24.00 price target on shares of Callaway Golf in a research report on Sunday, May 12th. Finally, ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Callaway Golf has an average rating of “Buy” and a consensus target price of $22.83.

Shares of ELY opened at $18.17 on Thursday. The stock has a fifty day simple moving average of $17.27. Callaway Golf has a fifty-two week low of $14.44 and a fifty-two week high of $24.67. The company $1.71 billion, a PE ratio of 16.98, a PEG ratio of 0.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.14. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The company had revenue of $516.20 million for the quarter, compared to analysts’ expectations of $504.07 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. Callaway Golf’s quarterly revenue was up 28.0% on a year-over-year basis.

Institutional investors and hedge funds have recently modified their holdings of the company. Hancock Whitney Corp boosted its stake in shares of Callaway Golf by 3.5% during the fourth quarter. Hancock Whitney Corp now owns 145,933 shares of the company’s stock valued at $2,232,000 after purchasing an additional 4,894 shares during the period. Geode Capital Management LLC boosted its stake in shares of Callaway Golf by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 943,292 shares of the company’s stock valued at $14,432,000 after purchasing an additional 79,255 shares during the period. Massey Quick Simon & CO. LLC raised its holdings in shares of 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 in the last quarter. Eqis Capital Management Inc. raised its holdings in shares of Callaway Golf by 22.4% in the first quarter. Eqis Capital Management Inc. now owns 13,282 shares of the company’s stock valued at $212,000 after acquiring an additional 2,434 shares in the last quarter. Finally, We Are One Seven LLC raised its holdings in shares of Callaway Golf by 101.1% in the first quarter. We Are One Seven LLC now owns 19,666 shares of the company’s stock valued at $313,000 after acquiring an additional 9,888 shares in the last quarter. 89.70% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Russell L. Fleischer acquired 5,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $14.75 per share, with a total value of $73,750.00. Following the completion of the purchase, the director now directly owns 15,859 shares of the company’s stock, valued at $233,920.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Also, CFO Brian P. Lynch bought 6,575 shares of the stock in a transaction dated Monday, May 20th. The shares were bought at an average cost of $15.13 per share, with a total value of $99,479.75. Following the completion of the purchase, the chief financial officer now directly owns 31,967 shares of the company’s stock, valued at approximately $483,660.71. The disclosure for this purchase can be found here . Insiders have acquired 21,575 shares of company stock valued at $324,630 over the last ninety days. 1.97% of the stock is owned by insiders.

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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