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Callaway Golf (NYSE:ELY) was downgraded by Davidson to a “neutral” rating in a research note issued on Monday.

Separately, analysts at DA Davidson downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating in a research note on Monday. They now have a $8.00 price target on the stock, down previously from $10.00. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.17.

Shares of Callaway Golf (NYSE:ELY) traded up 1.58% on Monday, hitting $7.73. The stock had a trading volume of 1,598,228 shares. Callaway Golf has a 52-week low of $6.76 and a 52-week high of $10.35. The stock’s 50-day moving average is $8.19 and its 200-day moving average is $8.54. The company’s market cap is $600.7 million.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.02. The company had revenue of $232.00 million for the quarter, compared to the consensus estimate of $246.51 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts predict that Callaway Golf will post $0.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, August 20th.

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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