Stephens initiated coverage on shares of Callaway Golf (NYSE:ELY) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $17.00 price target on the stock.

A number of other equities research analysts have also commented on ELY. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $27.00 price objective on shares of Callaway Golf in a research note on Thursday, September 27th. Cowen increased their target price on shares of Callaway Golf from $21.00 to $24.00 and gave the stock a hold rating in a research note on Friday, September 28th. Jefferies Financial Group reissued a buy rating and set a $26.00 target price on shares of Callaway Golf in a research note on Monday, October 29th. ValuEngine lowered shares of Callaway Golf from a buy rating to a hold rating in a research note on Wednesday, November 21st. Finally, B. Riley set a $30.00 target price on shares of Callaway Golf and gave the stock a buy rating in a research note on Sunday, December 2nd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Callaway Golf presently has a consensus rating of Hold and a consensus target price of $22.42.

Shares of NYSE:ELY traded up $0.01 during trading on Tuesday, reaching $16.31. The stock had a trading volume of 18,752 shares, compared to its average volume of 970,285. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.28. Callaway Golf has a 52 week low of $13.74 and a 52 week high of $24.67. The firm has a market cap of $1.57 billion, a P/E ratio of 30.74, a P/E/G ratio of 0.61 and a beta of 1.06.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, October 24th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.09. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. The company had revenue of $262.65 million for the quarter, compared to analyst estimates of $250.83 million. As a group, sell-side analysts anticipate that Callaway Golf will post 1.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, November 20th. Callaway Golf’s dividend payout ratio (DPR) is 7.55%.

Several institutional investors have recently added to or reduced their stakes in ELY. Bank of New York Mellon Corp lifted its stake in shares of Callaway Golf by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,607,354 shares of the company’s stock valued at $30,492,000 after buying an additional 47,097 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Callaway Golf by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 657,286 shares of the company’s stock valued at $12,469,000 after buying an additional 42,601 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Callaway Golf by 8.3% in the second quarter. BlackRock Inc. now owns 13,041,770 shares of the company’s stock valued at $247,402,000 after purchasing an additional 999,297 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Callaway Golf by 4.8% in the second quarter. Legal & General Group Plc now owns 206,159 shares of the company’s stock valued at $3,928,000 after purchasing an additional 9,447 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Callaway Golf in the second quarter valued at about $135,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

Featured Article: Conference Calls and Individual Investors

Analyst Recommendations for Callaway Golf (NYSE:ELY)

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.