Callaway Golf Co. (NYSE:ELY) – Stock analysts at Imperial Capital reduced their Q4 2016 earnings per share (EPS) estimates for shares of Callaway Golf in a research report issued on Tuesday. Imperial Capital analyst G. Kelly now forecasts that the brokerage will post earnings of ($0.18) per share for the quarter, down from their previous forecast of ($0.17). Imperial Capital currently has a “Outperform” rating and a $14.00 price target on the stock. Imperial Capital also issued estimates for Callaway Golf’s Q1 2017 earnings at $0.46 EPS, Q2 2017 earnings at $0.24 EPS and Q3 2017 earnings at ($0.05) EPS.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The firm had revenue of $188 million for the quarter, compared to analysts’ expectations of $177.39 million. Callaway Golf had a return on equity of 7.84% and a net margin of 4.20%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS.

Earnings History and Estimates for Callaway Golf (NYSE:ELY)

A number of other research firms also recently weighed in on ELY. Jefferies Group restated a “buy” rating and issued a $14.00 target price on shares of Callaway Golf in a research report on Friday, August 5th. KeyCorp restated a “buy” rating and issued a $16.00 target price on shares of Callaway Golf in a research report on Friday, September 23rd. Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating and set a $11.50 target price for the company in a research report on Friday, November 4th. Zacks Investment Research downgraded Callaway Golf from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Roth Capital set a $13.00 target price on Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, September 17th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $13.39.

Callaway Golf (NYSE:ELY) opened at 12.07 on Thursday. The company has a market capitalization of $1.14 billion, a PE ratio of 36.47 and a beta of 1.39. Callaway Golf has a 12-month low of $8.00 and a 12-month high of $12.11. The firm’s 50 day moving average price is $11.03 and its 200-day moving average price is $10.64.

A number of large investors have recently modified their holdings of ELY. TIAA CREF Investment Management LLC boosted its stake in shares of Callaway Golf by 69.6% in the first quarter. TIAA CREF Investment Management LLC now owns 578,828 shares of the company’s stock valued at $5,279,000 after buying an additional 237,480 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Callaway Golf by 6.9% in the first quarter. Prudential Financial Inc. now owns 222,037 shares of the company’s stock valued at $2,025,000 after buying an additional 14,400 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Callaway Golf by 16.6% in the first quarter. BlackRock Group LTD now owns 91,827 shares of the company’s stock valued at $837,000 after buying an additional 13,046 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Callaway Golf by 2.7% in the first quarter. BlackRock Fund Advisors now owns 5,410,331 shares of the company’s stock valued at $49,342,000 after buying an additional 141,261 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Callaway Golf by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,228,493 shares of the company’s stock valued at $20,324,000 after buying an additional 123,306 shares during the last quarter. 84.37% of the stock is currently owned by institutional investors.

About Callaway Golf

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.

5 Day Chart for NYSE:ELY

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