Callaway Golf rises as Q2 results outpace heightened expectations [Seeking Alpha]
Callaway Golf Company (ELY)
Last callaway golf company earnings: 2/10 04:20 pm
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US:NYSE Investor Relations:
callawaygolf.gcs-web.com/investor-overview
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Source: Seeking Alpha
Callaway Golf ( ELY ) rips to a YTD high after posting a solid Q2 earnings beat and a 23% Y/Y rise in revenues as well as news of a $100M stock buyback plan. The company also raised its adjusted EPS guidance to $1.03-$1.09 from a previous range of $0.96-$1.06. KeyBanc, which has an Overweight rating and a $23 price target on the shares, says the results came in solidly above heightened expectations of late, citing encouraging performance from the recently acquired Jack Wolfskin, which contributed $48M in revenues. The domestic golf industry is showing "strong, early momentum into significantly easier compares" for H2 2019, KeyBanc analyst Brett Andress writes; combined with ELY's H2-loaded cadence and international outperformance, this should point to upside to the company's expectations. See all stocks on the move » Now read: Callaway Golf Company 2019 Q2 - Results - Earnings Call Slides » Subscribe for full text news in your inbox
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