Callaway Golf (NYSE:ELY) – Analysts at B. Riley issued their Q1 2022 earnings per share estimates for Callaway Golf in a report released on Friday, January 7th. B. Riley analyst S. Anderson expects that the company will post earnings per share of $0.29 for the quarter. B. Riley also issued estimates for Callaway Golf’s Q2 2022 earnings at $0.38 EPS, Q3 2022 earnings at $0.32 EPS and Q4 2022 earnings at ($0.18) EPS.
Several other equities research analysts have also weighed in on ELY. Jefferies Financial Group increased their price objective on shares of Callaway Golf from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10th. KeyCorp raised their price target on shares of Callaway Golf from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, November 11th. Compass Point raised their price target on shares of Callaway Golf from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, November 11th. Finally, Bank of America assumed coverage on shares of Callaway Golf in a research note on Tuesday, November 16th. They issued a “buy” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Callaway Golf currently has an average rating of “Buy” and an average price target of $39.58.
ELY opened at $26.52 on Monday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 2.81 and a beta of 1.92. Callaway Golf has a fifty-two week low of $24.30 and a fifty-two week high of $37.75. The company’s 50-day moving average price is $27.79 and its 200 day moving average price is $29.20. The company has a quick ratio of 1.14, a current ratio of 1.59 and a debt-to-equity ratio of 0.28. Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Tuesday, November 9th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The business had revenue of $856.46 million for the quarter, compared to analysts’ expectations of $857.22 million. Callaway Golf had a net margin of 11.00% and a return on equity of 4.84%. During the same quarter last year, the company posted $0.60 earnings per share.
This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.
Take your trading to the next level with the Options Strategy Guide.
A number of hedge funds have recently added to or reduced their stakes in ELY. Envestnet Asset Management Inc. raised its holdings in shares of Callaway Golf by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,725 shares of the company’s stock valued at $868,000 after purchasing an additional 929 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Callaway Golf by 17.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,729 shares of the company’s stock valued at $396,000 after purchasing an additional 1,752 shares in the last quarter. Swiss National Bank raised its holdings in shares of Callaway Golf by 1.6% during the 2nd quarter. Swiss National Bank now owns 207,600 shares of the company’s stock valued at $7,002,000 after purchasing an additional 3,200 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Callaway Golf by 49.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,020 shares of the company’s stock valued at $169,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of Callaway Golf during the 2nd quarter valued at $290,000. Institutional investors own 94.17% of the company’s stock.
In other Callaway Golf news, major shareholder Pep Tg Investments Lp sold 3,000,000 shares of the stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $28.81, for a total value of $86,430,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erik J. Anderson sold 139,832 shares of the stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $30.00, for a total transaction of $4,194,960.00. The disclosure for this sale can be found here. Insiders sold a total of 3,167,332 shares of company stock valued at $91,355,635 in the last ninety days. Company insiders own 1.23% of the company’s stock.
About Callaway Golf
Callaway Golf Co engages in the manufacture and distribution of golf equipment and accessories. It operates through the following segments: Golf Equipment; and Apparel, Gear, and Other. The Golf Equipment segment focuses in the designs, manufactures, and selling of a full line of golf equipment. The Apparel, Gear, and Other segment involves in the development and selling of soft goods products under the Callaway, TravisMathew, OGIO, and Jack Wolfskin brands.
Featured Story: Most Volatile Stocks
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Callaway Golf right now?
Before you consider Callaway Golf, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Callaway Golf wasn’t on the list.
While Callaway Golf currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here
This news is republished from another source. You can check the original article here