Callaway Golf (ELY - Free Report) closed the most recent trading day at $21.71, moving -0.91% from the previous trading session. This change was narrower than the S&P 500's 0.92% loss on the day. Elsewhere, the Dow lost 0.77%, while the tech-heavy Nasdaq lost 1.65%.
Coming into today, shares of the maker of golf equipment and accessories had lost 4.24% in the past month. In that same time, the Consumer Discretionary sector lost 2.61%, while the S&P 500 lost 2.56%.
Wall Street will be looking for positivity from ELY as it approaches its next earnings report date. This is expected to be February 6, 2019. The company is expected to report EPS of -$0.32, down 113.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $176.49 million, down 7.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.05 per share and revenue of $1.24 billion, which would represent changes of +98.11% and +18.11%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ELY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.1% higher. ELY is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, ELY currently has a Forward P/E ratio of 20.85. This represents a premium compared to its industry's average Forward P/E of 14.99.
It is also worth noting that ELY currently has a PEG ratio of 0.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ELY's industry had an average PEG ratio of 1 as of yesterday's close.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 36, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.