#3 - Callaway Golf Co. (NYSE:ELY)
Callaway Golf Co. (NYSE: ELY) - Who said golf is dead? Maybe it’s the Tiger effect, maybe it’s Nike's exit from the category, or maybe it's the growth of simulators and other programs that are beginning to take root to make the game more accessible to a younger market. Whatever the reason for the growth, the golf equipment, and accessories manufacturer has seen its stock climb approximately 71% in the 12 months that led up to its last earnings report. That growth is leaps and bounds ahead of the consumer discretionary market (4%) and the S&P 500 (18%) in that same period. So is it overvalued? Maybe not. Despite the massive jump, there was a pullback and shares sit slightly below their 52-week high. The stock has a P/E ratio of over 19 and is trading at 22x forward 12-month earnings estimates.
But the question for investors is where will the stock go? Full-year revenue estimates are projected to rise nearly 17% to $1.23 billion with adjusted earnings to rise to $1.00 per share (an 88.7% increase). Analysts love the stock which has received 10 upward earnings estimates for the rest of 2018 and 2019 and no downward estimates for the same timeframe.
About Callaway Golf
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology used by independent driving ranges and broadcast television; and World Golf Tour digital golf game.
Read More - Current Price
- $0.00
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
