According to Zacks, “Callaway Golf Company is designs, develops, manufactures and markets high quality, innovative golf clubs. The Company’s golf clubs are sold at premium prices to both average and skilled golfers on the basis of performance, ease of use and appearance. “
Several other brokerages have also weighed in on ELY. Imperial Capital reaffirmed an outperform rating and set a $14.00 target price on shares of Callaway Golf in a research note on Wednesday, November 30th. Compass Point lowered shares of Callaway Golf from a buy rating to a neutral rating in a research note on Wednesday, November 30th. Jefferies Group LLC set a $16.00 target price on shares of Callaway Golf and gave the stock a buy rating in a research note on Monday, December 12th. Wunderlich reaffirmed a buy rating and set a $15.00 target price on shares of Callaway Golf in a research note on Thursday, January 5th. Finally, DA Davidson reaffirmed a buy rating and set a $14.00 target price on shares of Callaway Golf in a research note on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $13.61.
Callaway Golf (NYSE:ELY) opened at 11.35 on Monday. The firm has a 50-day moving average of $10.65 and a 200 day moving average of $11.20. Callaway Golf has a 52-week low of $8.91 and a 52-week high of $12.56. The company has a market capitalization of $1.07 billion, a P/E ratio of 5.73 and a beta of 1.33.
Callaway Golf (NYSE:ELY) last issued its earnings results on Thursday, February 2nd. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. Callaway Golf had a net margin of 21.80% and a return on equity of 9.93%. The business earned $164 million during the quarter, compared to analyst estimates of $170.87 million. During the same quarter last year, the company earned ($0.29) earnings per share. Callaway Golf’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Callaway Golf will post $0.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 20th. Investors of record on Monday, February 27th were issued a $0.01 dividend. The ex-dividend date was Thursday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.35%. Callaway Golf’s dividend payout ratio (DPR) is 2.02%.
In related news, insider Neil Howie sold 70,089 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $11.50, for a total value of $806,023.50. Following the sale, the insider now owns 90,173 shares of the company’s stock, valued at $1,036,989.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its position in shares of Callaway Golf by 3.3% in the third quarter. Great West Life Assurance Co. Can now owns 128,183 shares of the company’s stock worth $1,488,000 after buying an additional 4,116 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Callaway Golf by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 417,183 shares of the company’s stock valued at $4,843,000 after buying an additional 3,186 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Callaway Golf by 20.2% in the third quarter. Bank of New York Mellon Corp now owns 1,406,983 shares of the company’s stock valued at $16,335,000 after buying an additional 236,192 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Callaway Golf by 102.4% in the fourth quarter. Two Sigma Investments LP now owns 782,604 shares of the company’s stock valued at $8,577,000 after buying an additional 396,008 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Callaway Golf by 8.4% in the third quarter. Rhumbline Advisers now owns 140,023 shares of the company’s stock valued at $1,626,000 after buying an additional 10,825 shares in the last quarter. 85.85% of the stock is currently owned by institutional investors.
Callaway Golf Company Profile
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.
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