Callaway Golf Company (ELY) Receives $15.25 Consensus Price Target from Analysts
Shares of Callaway Golf Company (NYSE:ELY) have earned a consensus rating of “Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.28.
Several brokerages have recently commented on ELY. Cowen and Company began coverage on shares of Callaway Golf in a report on Wednesday, June 14th. They issued a “market perform” rating and a $14.00 price objective on the stock. Imperial Capital restated an “outperform” rating and issued a $16.00 price objective (up from $14.50) on shares of Callaway Golf in a report on Wednesday, August 9th. Aegis restated a “buy” rating on shares of Callaway Golf in a report on Monday, September 4th. Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 price objective on the stock. in a report on Saturday, August 5th. Finally, Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $13.60 to $13.75 in a report on Monday, August 7th.
Shares of Callaway Golf (ELY) traded down 1.10% during trading on Wednesday, hitting $14.34. 419,031 shares of the stock were exchanged. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 7.93 and a beta of 1.17. The stock’s 50 day moving average price is $13.90 and its 200-day moving average price is $12.73. Callaway Golf has a one year low of $9.77 and a one year high of $14.75.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $295.70 million. During the same period in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, analysts predict that Callaway Golf will post $0.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. Callaway Golf’s dividend payout ratio (DPR) is presently 2.20%.
In other Callaway Golf news, insider Jennifer L. Thomas sold 19,349 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.90, for a total transaction of $268,951.10. Following the sale, the insider now directly owns 30,189 shares in the company, valued at approximately $419,627.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark F. Leposky sold 31,691 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $14.00, for a total transaction of $443,674.00. Following the sale, the vice president now owns 68,343 shares in the company, valued at $956,802. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 281,113 shares of company stock worth $3,792,388. 2.59% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in ELY. Riverhead Capital Management LLC increased its position in shares of Callaway Golf by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after purchasing an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Callaway Golf in the 2nd quarter valued at approximately $109,000. Flinton Capital Management LLC increased its position in shares of Callaway Golf by 71.6% in the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after purchasing an additional 4,726 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Callaway Golf in the 1st quarter valued at approximately $162,000. Finally, Amalgamated Bank increased its position in shares of Callaway Golf by 1.3% in the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after purchasing an additional 160 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors.
About Callaway Golf
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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