Callaway Golf Co (ELY) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.38. The company posted revenue of $274.10 million in the period, compared to analysts expectations of $280.84 million. The company’s revenue was down -3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.
Many Wall Street Analysts have commented on Callaway Golf Co. Company shares were Reiterated by Wunderlich on Apr 4, 2016 to “Hold”, Firm has raised the Price Target to $ 10 from a previous price target of $8 .Imperial Capital Initiated Callaway Golf Co on Mar 15, 2016 to “Outperform”, Price Target of the shares are set at $12.Company shares were Upgraded by DA Davidson on Feb 24, 2016 to ” Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .
Callaway Golf Co opened for trading at $9.34 and hit $9.48 on the upside on Friday, eventually ending the session at $9.4, with a gain of 0.64% or 0.06 points. The heightened volatility saw the trading volume jump to 5,14,301 shares. Company has a market cap of $881 M.
In a different news, on Feb 5, 2016, Brian P. Lynch (SVP, G.C. & Corp Secretary) sold 16,584 shares at $9.52 per share price. According to the SEC, on Apr 28, 2015, Bradley J Holiday (SEVP, CFO) sold 59,518 shares at $10.05 per share price. On Apr 21, 2015, Alan Hocknell (SVP, Research & Development) sold 70,950 shares at $9.95 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The golf balls segment consists of the Company’s balls that are designed manufactured and sold by the Company. The Company sells pre-owned golf products through its Website www.callawaygolfpreowned.com. In addition the Company sells Odyssey and its products direct to consumers through its Websites www.callawaygolf.com and www.odysseygolf.com. The Company’s products are sold in the United States and in approximately 100 countries around the world.