According to Zacks, “Callaway Golf Company is designs, develops, manufactures and markets high quality, innovative golf clubs. The Company’s golf clubs are sold at premium prices to both average and skilled golfers on the basis of performance, ease of use and appearance. “
A number of other analysts also recently commented on ELY. Roth Capital set a $13.00 target price on shares of Callaway Golf and gave the stock a buy rating in a report on Saturday, September 17th. TheStreet raised shares of Callaway Golf from a hold rating to a buy rating in a research report on Wednesday, July 27th. Forward View reissued a buy rating on shares of Callaway Golf in a research report on Sunday, July 24th. Vetr raised shares of Callaway Golf from a buy rating to a strong-buy rating and set a $12.50 target price on the stock in a research report on Monday, June 13th. Finally, FBR & Co assumed coverage on shares of Callaway Golf in a research report on Thursday, June 30th. They issued an outperform rating and a $12.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $13.21.
Callaway Golf (NYSE:ELY) opened at 11.06 on Tuesday. Callaway Golf has a 1-year low of $8.00 and a 1-year high of $11.90. The firm’s 50-day moving average is $11.43 and its 200-day moving average is $10.42. The stock has a market cap of $1.04 billion, a P/E ratio of 28.00 and a beta of 1.30.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Callaway Golf had a net margin of 4.53% and a return on equity of 8.69%. The business had revenue of $245.60 million for the quarter, compared to the consensus estimate of $242.49 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that Callaway Golf will post $0.44 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Silver Capital Management LLC acquired a new stake in Callaway Golf during the second quarter valued at approximately $102,000. Boothbay Fund Management LLC acquired a new stake in Callaway Golf during the first quarter valued at approximately $112,000. Legal & General Group Plc increased its stake in Callaway Golf by 10.8% in the first quarter. Legal & General Group Plc now owns 12,987 shares of the company’s stock valued at $119,000 after buying an additional 1,268 shares in the last quarter. Airain ltd acquired a new stake in Callaway Golf during the second quarter valued at approximately $119,000. Finally, PineBridge Investments L.P. increased its stake in Callaway Golf by 4.0% in the second quarter. PineBridge Investments L.P. now owns 11,914 shares of the company’s stock valued at $121,000 after buying an additional 457 shares in the last quarter. 84.34% of the stock is owned by institutional investors.
Callaway Golf Company Profile
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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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