Why Callaway Golf Stock Got Crushed [The Motley Fool]
Callaway Golf Company (ELY)
Last callaway golf company earnings: 2/10 04:20 pm
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callawaygolf.gcs-web.com/investor-overview
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Source: The Motley Fool
Investors have concerns about the company acquiring Jack Wolfskin. Evan Niu, CFA ( TMFNewCow ) Nov 30, 2018 at 12:20PM What happened Shares of Callaway Golf ( NYSE:ELY ) are getting crushed today, down by 13% as of 11:15 a.m. EST, after the company announced it would be acquiring Jack Wolfskin in an expansion into outdoor apparel. Investors are clearly skeptical about the deal. So what Callaway has agreed to pay 418 million euros for Jack Wolfskin, which translates into approximately $476 million based on an exchange rate of 1.14 euros per U.S. dollar. Based on that same exchange rate, Jack Wolfskin generated $380 million in revenue last fiscal year, and the purchase price values the company at 12 times fiscal 2018 adjusted EBITDA of $40 million. Image source: Getty Images. Callaway has been expanding into the active lifestyle categor
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