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Callaway Golf (NYSE:ELY) was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. They currently have a $8.00 price target on the stock, down from their previous price target of $10.00. DA Davidson’s price objective would indicate a potential upside of 5.12% from the company’s current price.

Callaway Golf (NYSE:ELY) opened at 7.61 on Monday. Callaway Golf has a one year low of $6.76 and a one year 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 $591.3 million.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.12 earnings per share. Callaway Golf’s revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that Callaway Golf will post $0.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend 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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