Callaway Golf Co (NYSE:ELY) saw unusually large options trading activity on Thursday. Stock traders purchased 3,290 call options on the stock. This is an increase of 621% compared to the typical daily volume of 456 call options.
Several brokerages have recently weighed in on ELY. Zacks Investment Research lowered shares of Callaway Golf from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Cowen upgraded shares of Callaway Golf from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a report on Tuesday. B. Riley cut their price objective on shares of Callaway Golf from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Imperial Capital began coverage on shares of Callaway Golf in a report on Wednesday, January 29th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, ValuEngine upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.17.
Shares of ELY stock opened at $11.33 on Friday. The firm has a market cap of $858.32 million, a P/E ratio of 13.99 and a beta of 1.43. Callaway Golf has a 1-year low of $4.75 and a 1-year high of $22.33. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.51 and a quick ratio of 0.64. The firm’s 50-day simple moving average is $15.05 and its 200-day simple moving average is $19.17.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). Callaway Golf had a return on equity of 13.82% and a net margin of 4.67%. The company had revenue of $312.00 million for the quarter, compared to analysts’ expectations of $305.49 million. During the same quarter in the previous year, the company earned ($0.32) earnings per share. The company’s revenue was up 72.7% on a year-over-year basis. Analysts expect that Callaway Golf will post 1.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 13th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.04 annualized dividend and a yield of 0.35%. Callaway Golf’s payout ratio is 3.64%.
In other Callaway Golf news, EVP Glenn F. Hickey sold 24,595 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.81, for a total transaction of $536,416.95. Following the sale, the executive vice president now directly owns 8,552 shares of the company’s stock, valued at approximately $186,519.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.97% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Callaway Golf in the fourth quarter valued at approximately $20,674,000. Sunbelt Securities Inc. purchased a new position in Callaway Golf in the fourth quarter valued at approximately $4,802,000. Geode Capital Management LLC raised its holdings in Callaway Golf by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 1,217,770 shares of the company’s stock valued at $25,816,000 after buying an additional 80,709 shares during the period. Mason Street Advisors LLC raised its holdings in Callaway Golf by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 32,778 shares of the company’s stock valued at $695,000 after buying an additional 828 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Callaway Golf by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 4,743,607 shares of the company’s stock valued at $100,564,000 after buying an additional 30,498 shares during the period. Hedge funds and other institutional investors own 98.08% 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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