Callaway Golf Company (ELY - Free Report) is a designer, manufacturer, and seller of golf clubs, golf balls, golf bags, and other golf-related accessories 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 Golfcould be a solid choice for investors.
Current Quarter Estimates for ELY
In the past 30 days, 4 estimates have gone higher for Callaway Golf while 3 have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 19 cents a share 30 days ago, to a loss of 17 cents today, a move of 10.5%.
Current Year Estimates for ELY
Meanwhile, Callaway Golf’s current year figures are also looking quite promising, with 9 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 46 cents per share 30 days ago to 53 cents per share today, an increase of 15.2%.
CALLAWAY GOLF Price and Consensus
The stock has also started to move higher lately, adding 23% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) 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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