Callaway Golf Co. (NYSE:ELY) announced its quarterly earnings results on Wednesday. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm earned $245.60 million during the quarter, compared to analyst estimates of $242.49 million. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. Callaway Golf updated its Q3 guidance to ($0.15)-(0.10) EPS and its FY16 guidance to $0.40-0.50 EPS.
Callaway Golf (NYSE:ELY) remained flat at $10.43 during trading on Wednesday. The stock had a trading volume of 910,993 shares. Callaway Golf has a one year low of $7.97 and a one year high of $10.78. The firm has a market capitalization of $979.80 million and a PE ratio of 58.60. The firm has a 50 day moving average price of $10.31 and a 200 day moving average price of $9.36.
A number of analysts have commented on the stock. Sterne Agee CRT reiterated a “buy” rating on shares of Callaway Golf in a research note on Monday, May 16th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, April 14th. Vetr upgraded shares of Callaway Golf from a “buy” rating to a “strong-buy” rating and set a $12.50 price target for the company in a research note on Monday, June 13th. DA Davidson reissued a “buy” rating and issued a $12.00 price objective on shares of Callaway Golf in a research report on Sunday, May 1st. Finally, Jefferies Group reissued a “buy” rating on shares of Callaway Golf in a research report on Thursday, April 28th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $12.32.
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of the Company’s trademarks and service marks and sales of pre-owned golf clubs.
