Callaway Golf (NYSE: ELY) – Jefferies Financial Group released its earnings estimates for the first quarter of 2022 for Callaway Golf in a research report released on Thursday, June 17th. Jefferies Financial Group analyst R. Konik predicts the company will post earnings of $ 0.32 per share for the quarter. Jefferies Financial Group also released estimates of Callaway Golf’s earnings for the second quarter of 2022 at $ 0.15 per share and third quarter 2022 earnings at $ 0.16 per share.
A number of other research analysts have also recently commented on the company. KeyCorp raised its price target for Callaway Golf from $ 34.00 to $ 36.00 and rated the stock as “overweight” in a research report on Tuesday, May 11th. TheStreet upgraded Callaway Golf from a “c” rating to a “b-” rating in a research report on Monday, May 10th. B. Riley raised his target price on Callaway Golf from $ 35.00 to $ 38.00 and gave the company a buy recommendation in a research report on Tuesday, May 11th. Truist raised its price target for Callaway Golf from $ 32.00 to $ 35.00 in a research report on Friday, March 5th. Finally, Roth Capital raised its price target for Callaway Golf from $ 34.00 to $ 41.00 and rated the company as a “Buy” in a research report on Thursday, May 20. Two investment analysts have rated the stock with a hold rating and eight with a buy rating. The company currently has an average rating of “Buy” and an average price target of $ 32.91.
NYSE ELY shares opened at $ 33.23 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.73 and debt of 0.33. Callaway Golf has a 52-week low of $ 14.62 and a 52-week high of $ 37.75. The company has a market cap of $ 3.13 billion, a P / E of 63.91, and a beta of 2.13. The stock has a fifty-day moving average of $ 32.47. Callaway Golf (NYSE: ELY) last released its quarterly results on Sunday, May 9th. The company reported $ 0.62 EPS for the quarter, beating Zacks’ consensus estimate of $ 0.12 by $ 0.50. Callaway Golf had a return on equity of 7.77% and a net margin of 6.48%. The company posted revenue of $ 651.60 million for the quarter, compared to analyst expectations of $ 603.11 million. For the same quarter last year, the company had earnings per share of $ 0.32. Callaway Golf sales grew 47.3% year over year.
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Several institutional investors recently bought and sold ELY shares. Or, Investment Management LLC acquired a new position at Callaway Golf worth approximately $ 26,000 in the fourth quarter. Truvestments Capital LLC increased its stake in Callaway Golf by 100.0% in the first quarter. Truvestments Capital LLC now owns 1,000 shares of the company valued at $ 26,000 after purchasing an additional 500 shares during the reporting period. Capital Asset Advisory Services LLC acquired a new position in Callaway Golf valued at approximately $ 27,000 in the fourth quarter. Parkside Financial Bank & Trust increased its stake in Callaway Golf by 43.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,266 shares in the company valued at $ 34,000 after purchasing an additional 386 shares during the reporting period. Eventually, Vantage Consulting Group Inc acquired a new position at Callaway Golf worth approximately $ 42,000 in the fourth quarter.
In related news, CEO Oliver G. Brewer III sold 497,537 Callaway Golf shares in a transaction that occurred on Tuesday, June 1st. The stock sold at an average price of $ 37.21 for a total value of $ 18,513,351.77. The transaction was disclosed in a document filed with the SEC, which can be accessed via this link. EVP Glenn F. Hickey also sold 1,696 shares of Callaway Golf in a transaction on Monday, May 17th. The stock sold at an average price of $ 34.73 for a total value of $ 58,902.08. Upon completion of the transaction, the executive vice president now directly owns 31,419 shares in the company valued at $ 1,091,181.87. The disclosure for this sale can be found here. In the past 90 days, insiders have sold 578,185 shares in the company, valued at $ 21,300,830. Company insiders own 1.23% of the company’s shares.
Callaway Golf company profile
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, equipment, and other products. It operates in two segments: golf equipment; and clothing, equipment and others. The golf equipment segment offers drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters and used golf clubs under the Callaway and Odyssey brands, and golf balls under the Callaway Golf and Strata brand names.
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