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Increased Earnings Estimates Seen for Callaway (ELY): Can It Move Higher?

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Callaway Golf Company (ELY - Free Report) is a designer, manufacturer and seller of high-quality golf equipment that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ELY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Callaway could be a solid choice for investors.

Current Quarter Estimates for ELY

In the past 30 days, five estimates have gone higher for Callaway while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 9 cents a share 30 days ago, to earnings of 7 cents today.

Current Year Estimates for ELY

Meanwhile, Callaway’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 33 cents per share 30 days ago to 39 cents per share today, an increase of 18.2%.

Callaway Golf Company Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 6.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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