心中的那份痛苦

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Good Developing Trend in Callaway

Callaway trades at 12.6 times its 2008 earnings estimate, compared with the

industry average of 22.5, according to FactSet Research. Fortune Brands, which

owns the Titleist and Cobra brands, has a P/E ratio of 14.8, and Nike Inc. has a

ratio of 18.9.

In late January, the company of Callaway forecast 2008 net sales to increase

between 2% and 4% to a range of $1.15 billion and $1.17 billion. Earnings are

expected to be in the range of $1.08 to $1.18 a share.

April and May are two of the most important months of the year for Callaway,

Mr. Shanley said. With the weather warming up, people are getting excited for

golf and will be determining whether they need a new set of clubs.

"Sales aren't overly robust, but they're not anywhere near the question mark that

some are espousing," Mr. Fellows said, noting business in Europe and Japan

continue to look strong.

Regardless of Callaway's growth prospects, analysts say the nervous investor

isn't going to gain confidence in Callaway -- and other consumer discretionary

stocks -- unless it proves it can weather the storm.

"It's a show-me stock," SunTrust's Mr. Chappell said. "They're going to have to

post the results before anyone gives them credit.

"Callaway should buck the trend better than people expect."

TAG:Callaway www.golfmall.us