Several other research analysts have also recently weighed in on the company. Roth Capital set a $13.00 price objective on Callaway Golf and gave the stock a buy rating in a research report on Saturday, September 17th. Imperial Capital reaffirmed an outperform rating and set a $14.00 price objective on shares of Callaway Golf in a research report on Friday, September 9th. Compass Point began coverage on Callaway Golf in a research report on Friday, September 9th. They set a neutral rating and a $12.00 price objective for the company. Forward View set a $14.50 price objective on Callaway Golf and gave the stock a buy rating in a research report on Wednesday, August 31st. Finally, Jefferies Group reaffirmed a buy rating and set a $14.00 price objective on shares of Callaway Golf in a research report on Tuesday, August 30th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $13.07.
Shares of Callaway Golf (NYSE:ELY) opened at 11.83 on Friday. The company’s 50 day moving average price is $11.55 and its 200 day moving average price is $10.24. Callaway Golf has a 52-week low of $8.00 and a 52-week high of $11.90. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 29.95 and a beta of 1.29.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The company earned $245.60 million during the quarter, compared to analysts’ expectations of $242.49 million. Callaway Golf had a return on equity of 8.69% and a net margin of 4.53%. Callaway Golf’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Analysts forecast that Callaway Golf will post $0.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. Callaway Golf’s dividend payout ratio (DPR) is currently 10.26%.
Several institutional investors have recently made changes to their positions in ELY. Geode Capital Management LLC raised its position in shares of Callaway Golf by 1.7% in the first quarter. Geode Capital Management LLC now owns 579,012 shares of the company’s stock worth $5,280,000 after buying an additional 9,820 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Callaway Golf by 188.9% in the first quarter. Goldman Sachs Group Inc. now owns 377,515 shares of the company’s stock worth $3,442,000 after buying an additional 246,861 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Callaway Golf during the first quarter worth $251,000. Menta Capital LLC purchased a new position in shares of Callaway Golf during the first quarter worth $205,000. Finally, Royce & Associates LP purchased a new position in shares of Callaway Golf during the first quarter worth $2,663,000. Institutional investors own 84.34% of the company’s stock.
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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