Imperial Capital Increases Callaway Golf Price Target to $10.50 (ELY)
Imperial Capital upped their price objective on shares of Callaway Golf (NYSE:ELY) from $8.50 to $10.50 in a research note issued on Monday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Imperial Capital’s price objective indicates a potential upside of 20.69% from the stock’s previous close.
ELY has been the subject of a number of other recent research reports. Analysts at Wedbush raised their price target on shares of Callaway Golf from $6.00 to $7.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.84.
In other Callaway Golf news, CFO Bradley J. Holiday unloaded 41,051 shares of Callaway Golf stock on the open market in a transaction dated Friday, October 25th. The shares were sold at an average price of $8.75, for a total transaction of $359,196.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Callaway Golf (NYSE:ELY) opened at 8.70 on Monday. Callaway Golf has a 52-week low of $5.37 and a 52-week high of $7.58. The stock has a 50-day moving average of $7.11 and a 200-day moving average of $6.79. The company’s market cap is $632.0 million.
Callaway Golf (NYSE:ELY) last announced its earnings results on Thursday, October 24th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.50) earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. On average, analysts predict that Callaway Golf will post $-0.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend 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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