Callaway Golf Co (NYSE:ELY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
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. “
A number of other analysts have also recently weighed in on the stock. Forward View restated a “buy” rating on shares of Callaway Golf in a research note on Wednesday, February 22nd. Imperial Capital reduced their price objective on shares of Callaway Golf from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, February 7th. Wunderlich restated a “buy” rating and issued a $13.00 price objective (down from $15.00) on shares of Callaway Golf in a research note on Monday, February 6th. FBR & Co restated a “buy” rating and issued a $14.00 price objective on shares of Callaway Golf in a research note on Friday, February 3rd. Finally, DA Davidson restated a “buy” rating and issued a $14.00 price objective on shares of Callaway Golf in a research note on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $13.58.
Shares of Callaway Golf (NYSE:ELY) traded down 0.09% on Monday, reaching $11.23. 594,177 shares of the company’s stock traded hands. Callaway Golf has a 52 week low of $8.77 and a 52 week high of $12.56. The firm has a market capitalization of $1.06 billion, a P/E ratio of 5.67 and a beta of 1.33. The company’s 50-day moving average is $10.64 and its 200-day moving average is $11.20.
Callaway Golf (NYSE:ELY) last posted its earnings results on Thursday, February 2nd. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. The business earned $164 million during the quarter, compared to the consensus estimate of $170.87 million. Callaway Golf had a return on equity of 9.93% and a net margin of 21.80%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) earnings per share. Equities research analysts anticipate that Callaway Golf will post $0.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Monday, February 27th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, February 23rd. Callaway Golf’s payout ratio is currently 2.02%.
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A number of institutional investors have recently added to or reduced their stakes in ELY. Tudor Investment Corp Et Al bought a new position in Callaway Golf during the fourth quarter valued at approximately $149,000. Atria Investments LLC bought a new position in Callaway Golf during the third quarter valued at approximately $196,000. AQR Capital Management LLC boosted its position in Callaway Golf by 0.4% in the fourth quarter. AQR Capital Management LLC now owns 19,804 shares of the company’s stock valued at $217,000 after buying an additional 77 shares during the last quarter. Aperio Group LLC boosted its position in Callaway Golf by 12.7% in the third quarter. Aperio Group LLC now owns 20,114 shares of the company’s stock valued at $234,000 after buying an additional 2,269 shares during the last quarter. Finally, Pacad Investment Ltd. boosted its position in Callaway Golf by 211.9% in the fourth quarter. Pacad Investment Ltd. now owns 20,896 shares of the company’s stock valued at $229,000 after buying an additional 14,196 shares during the last quarter. Hedge funds and other institutional investors own 85.85% of the company’s stock.
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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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