Callaway Golf Co. (NYSE:ELY) Given Average Recommendation of “Buy” by Analysts
Shares of Callaway Golf Co. (NYSE:ELY) have been assigned an average rating of “Buy” from the fifteen ratings firms that are covering the stock. One analyst has rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.31.
A number of equities analysts have issued reports on ELY shares. Jefferies Group reiterated a “buy” rating and set a $14.00 target price on shares of Callaway Golf in a report on Thursday, July 28th. TheStreet upgraded Callaway Golf from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Compass Point started coverage on Callaway Golf in a report on Friday, September 9th. They set a “neutral” rating and a $12.00 target price for the company. DA Davidson set a $14.00 target price on Callaway Golf and gave the stock a “buy” rating in a report on Monday, August 29th. Finally, Vetr upgraded Callaway Golf from a “buy” rating to a “strong-buy” rating and set a $12.50 target price for the company in a report on Monday, June 13th.
Callaway Golf (NYSE:ELY) opened at 11.30 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 28.61 and a beta of 1.30. The company’s 50 day moving average price is $11.54 and its 200 day moving average price is $10.33. Callaway Golf has a 52-week low of $8.00 and a 52-week high of $11.90.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The business had revenue of $245.60 million for the quarter, compared to the consensus estimate of $242.49 million. Callaway Golf had a return on equity of 8.69% and a net margin of 4.53%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Analysts predict that Callaway Golf will post $0.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Tuesday, August 23rd. Callaway Golf’s payout ratio is currently 10.26%.
A number of institutional investors have recently bought and sold shares of the company. Bogle Investment Management L P DE boosted its position in Callaway Golf by 3,776.8% in the first quarter. Bogle Investment Management L P DE now owns 441,954 shares of the company’s stock worth $4,030,000 after buying an additional 430,554 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Callaway Golf by 188.9% in the first quarter. Goldman Sachs Group Inc. now owns 377,515 shares of the company’s stock valued at $3,442,000 after buying an additional 246,861 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Callaway Golf during the first quarter valued at about $251,000. Menta Capital LLC bought a new stake in shares of Callaway Golf during the first quarter valued at about $205,000. Finally, Royce & Associates LP bought a new stake in shares of Callaway Golf during the first quarter valued at about $2,663,000. Institutional investors and hedge funds own 84.34% 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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