Callaway Golf Price Target Raised to $7.00 at Wedbush (ELY)
Analysts at Wedbush increased their price target on shares of Callaway Golf (NYSE:ELY) from $6.00 to $7.00 in a research report issued to clients and investors on Friday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective suggests a potential downside of 19.54% from the company’s current price.
In other Callaway Golf news, CFO Bradley J. Holiday sold 41,051 shares of the stock on the open market in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $8.75, for a total value of $359,196.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on ELY. Analysts at Zacks upgraded shares of Callaway Golf from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $7.70 price target on the stock. Separately, analysts at DA Davidson upgraded shares of Callaway Golf from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $11.00 price target on the stock, up previously from $7.50. Finally, analysts at TheStreet upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research note to investors on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $8.44.
Callaway Golf (NYSE:ELY) traded up 19.83% during mid-day trading on Friday, hitting $8.70. The stock had a trading volume of 9,575,891 shares. Callaway Golf has a 52-week low of $5.37 and a 52-week high of $7.58. The stock’s 50-day moving average is $7.11 and its 200-day moving average is $6.79. The company’s market cap is $618.9 million.
Callaway Golf (NYSE:ELY) last announced its earnings results on Thursday, October 24th. The company reported ($0.18) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.28) by $0.10. The company had revenue of $178.00 million for the quarter, compared to the consensus estimate of $152.63 million. During the same quarter last year, the company posted ($0.50) earnings per share. Callaway Golf’s revenue was up 20.3% compared to the same quarter last year. On average, analysts predict that Callaway Golf will post $-0.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Tuesday, November 19th.
Manufactures a line of specialty golf clubs and other golf related equipment. Primary products include oversized Big Bertha metal woods, conventional-sized S2H2 metal woods, S2H2 irons and Callaway Hickory Stick wedges and putters.
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