Callaway Golf (NYSE:ELY) had its target price cut by Raymond James from $24.00 to $22.00 in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.
Several other equities research analysts have also recently weighed in on ELY. Imperial Capital started coverage on Callaway Golf in a research note on Wednesday, January 29th. They set an outperform rating and a $26.00 target price for the company. Stephens reiterated a buy rating and issued a $25.00 price objective on shares of Callaway Golf in a research note on Monday, December 2nd. Zacks Investment Research cut Callaway Golf from a hold rating to a sell rating in a research note on Tuesday, January 28th. ValuEngine cut Callaway Golf from a hold rating to a sell rating in a research note on Friday, January 3rd. Finally, B. Riley reiterated a buy rating and issued a $30.00 price objective on shares of Callaway Golf in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Callaway Golf presently has a consensus rating of Hold and an average price target of $23.81.
ELY stock opened at $19.46 on Tuesday. The business has a 50 day moving average price of $21.26 and a 200 day moving average price of $19.94. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.75 and a beta of 1.32. Callaway Golf has a fifty-two week low of $14.49 and a fifty-two week high of $22.33. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.76.
Callaway Golf (NYSE:ELY) last posted its earnings results on Monday, February 10th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.03). The business had revenue of $312.00 million for the quarter, compared to analysts’ expectations of $305.49 million. Callaway Golf had a return on equity of 13.82% and a net margin of 4.67%. Callaway Golf’s revenue for the quarter was up 72.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) EPS. As a group, sell-side analysts anticipate that Callaway Golf will post 1.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Wednesday, February 12th. Callaway Golf’s dividend payout ratio is currently 3.64%.
In other Callaway Golf news, EVP Glenn F. Hickey sold 24,595 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.81, for a total value of $536,416.95. Following the completion of the sale, the executive vice president now owns 8,552 shares in the company, valued at $186,519.12. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.97% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Callaway Golf in the fourth quarter valued at approximately $29,000. Islay Capital Management LLC acquired a new position in shares of Callaway Golf in the fourth quarter valued at approximately $34,000. NEXT Financial Group Inc acquired a new position in shares of Callaway Golf in the third quarter valued at approximately $49,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Callaway Golf in the third quarter valued at approximately $60,000. Finally, Aigen Investment Management LP acquired a new position in shares of Callaway Golf in the fourth quarter valued at approximately $110,000. Institutional investors own 99.77% of the company’s stock.
Callaway Golf Company Profile
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.
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