Callaway Golf Receives Consensus Recommendation of “Buy” from Analysts (NYSE:ELY)
Callaway Golf (NYSE:ELY) has been given a consensus rating of “Buy” by the eight brokerages that are covering the stock, Analyst RN reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.44.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Callaway Golf from an “outperform” rating to a “neutral” rating in a research note on Friday, May 23rd. They now have a $9.10 price target on the stock. Separately, analysts at CRT Capital initiated coverage on shares of Callaway Golf in a research note on Wednesday, May 14th. They set a “buy” rating and a $11.00 price target on the stock.
Shares of Callaway Golf (NYSE:ELY) opened at 8.21 on Friday. Callaway Golf has a 52-week low of $6.46 and a 52-week high of $10.35. The stock has a 50-day moving average of $8.20 and a 200-day moving average of $8.59. The company’s market cap is $636.5 million.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.16. The company had revenue of $351.87 million for the quarter, compared to the consensus estimate of $314.15 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts predict that Callaway Golf will post $0.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 24th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Friday, May 30th.
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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