Callaway Golf (NYSE:ELY) had its target price reduced by Raymond James from $24.00 to $22.00 in a research report released on Tuesday morning, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the stock.
Several other analysts have also commented on the stock. B. Riley reissued a buy rating and set a $30.00 price target on shares of Callaway Golf in a research report on Monday, January 27th. Zacks Investment Research downgraded shares of Callaway Golf from a hold rating to a sell rating in a report on Tuesday, January 28th. Compass Point set a $21.50 price objective on Callaway Golf and gave the stock a buy rating in a research report on Friday, November 1st. Stephens restated a buy rating and issued a $25.00 price objective on shares of Callaway Golf in a research report on Monday, December 2nd. Finally, Imperial Capital assumed coverage on Callaway Golf in a research report on Wednesday, January 29th. They issued an outperform rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $23.81.
Shares of ELY opened at $19.46 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.96 and a current ratio of 1.51. Callaway Golf has a fifty-two week low of $14.49 and a fifty-two week high of $22.33. The stock has a market capitalization of $1.84 billion, a PE ratio of 17.76, a P/E/G ratio of 0.75 and a beta of 1.32. The company’s fifty day moving average is $21.26 and its 200 day moving average is $19.94.
Callaway Golf (NYSE:ELY) last issued its earnings results on Monday, February 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03). The company had revenue of $312.00 million for the quarter, compared to analysts’ expectations of $305.49 million. Callaway Golf had a net margin of 4.67% and a return on equity of 13.82%. The firm’s revenue for the quarter was up 72.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. As a group, research analysts forecast that Callaway Golf will post 1.05 earnings per share 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 issued a $0.01 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Callaway Golf’s payout ratio is currently 3.64%.
In other Callaway Golf news, EVP Glenn F. Hickey sold 24,595 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 8,552 shares in the company, valued at approximately $186,519.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.97% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Chevy Chase Trust Holdings Inc. purchased a new position in Callaway Golf in the 4th quarter valued at $29,000. Islay Capital Management LLC acquired a new stake in shares of Callaway Golf in the 4th quarter worth $34,000. NEXT Financial Group Inc acquired a new stake in shares of Callaway Golf in the 3rd quarter worth $49,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Callaway Golf in the 3rd quarter worth $60,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Callaway Golf in the 4th quarter worth $110,000. Institutional investors own 99.77% of the company’s stock.
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. 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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