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August 18, 2014
07:58 EDTELYCallaway Golf downgraded to Neutral from Buy at DA Davidson
DA Davidson downgraded Callaway Golf to Neutral based on weak industry trends and retailer inventory discipline that makes 2015 consensus estimates look too high. Price target lowered to $8 from $10.
News For ELY From The Last 14 Days
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December 15, 2014
16:26 EDTELYCallaway Golf sees FY15 EPS breakeven if current forex rates persist
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16:25 EDTELYCallaway Golf sees FY15 EPS to grow nearly 100% on constant currency basis
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16:22 EDTELYCallaway Golf raises FY14 EPS view to 17c-19c from 15c-18c, consensus 18c
FY14 net sales continue to be estimated at approximately $890M, consensus $891.25M. Gross margins are currently estimated to be approximately 40.5%, compared to gross margins of 37.3% in 2013. This anticipated improvement in 2014 is expected to result from improved operating efficiencies, improved pricing and mix of product sales, and the decrease in charges related to the cost-reduction initiatives. The company previously had estimated 2014 gross margins of 41.0%. The slight change in estimate includes the limited effect of the unfavorable changes in foreign currency rates.

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