Imperial Capital reaffirmed their outperform rating on shares of Callaway Golf Co (NYSE:ELY) in a research report released on Tuesday. Imperial Capital currently has a $13.00 price target on the stock.
ELY has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Callaway Golf from a sell rating to a hold rating in a report on Monday, March 13th. DA Davidson restated a buy rating and set a $14.00 target price on shares of Callaway Golf in a report on Tuesday, January 31st. KeyCorp restated a positive rating and set a $16.00 target price on shares of Callaway Golf in a report on Tuesday, March 21st. Compass Point downgraded shares of Callaway Golf from a buy rating to a neutral rating in a report on Wednesday, November 30th. Finally, Wunderlich restated a buy rating and set a $15.00 target price on shares of Callaway Golf in a report on Friday, January 13th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $13.61.
Callaway Golf (NYSE:ELY) opened at 11.17 on Tuesday. The company has a market capitalization of $1.06 billion, a P/E ratio of 5.64 and a beta of 1.33. The stock’s 50 day moving average is $10.65 and its 200-day moving average is $11.20. Callaway Golf has a 12-month low of $8.78 and a 12-month high of $12.56.
Callaway Golf (NYSE:ELY) last issued its earnings results on Thursday, February 2nd. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. The firm had revenue of $164 million for the quarter, compared to analyst estimates of $170.87 million. Callaway Golf had a return on equity of 9.93% and a net margin of 21.80%. Callaway Golf’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. On average, equities analysts predict that Callaway Golf will post $0.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Monday, February 27th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. Callaway Golf’s dividend payout ratio is currently 2.02%.
In other Callaway Golf news, insider Neil Howie sold 70,089 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $11.50, for a total value of $806,023.50. Following the transaction, the insider now directly owns 90,173 shares in the company, valued at $1,036,989.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of Callaway Golf by 8.3% in the third quarter. BlackRock Fund Advisors now owns 6,482,102 shares of the company’s stock worth $75,257,000 after buying an additional 496,803 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Callaway Golf by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,407,802 shares of the company’s stock worth $59,270,000 after buying an additional 286,326 shares during the last quarter. FMR LLC boosted its stake in shares of Callaway Golf by 20.9% in the fourth quarter. FMR LLC now owns 4,305,000 shares of the company’s stock worth $47,183,000 after buying an additional 742,800 shares during the last quarter. Scopus Asset Management L.P. acquired a new stake in shares of Callaway Golf during the third quarter worth about $30,767,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Callaway Golf by 8.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,500,754 shares of the company’s stock worth $29,034,000 after buying an additional 187,206 shares during the last quarter. 85.85% of the stock is owned by institutional investors.
About Callaway Golf
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 its trademarks and service marks and sales of pre-owned golf clubs.
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