Callaway Golf Company (ELY) Receives Consensus Rating of “Buy” from Analysts
Callaway Golf Company (NYSE:ELY) has been assigned an average recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.25.
Several research firms have weighed in on ELY. Imperial Capital reiterated an “outperform” rating and issued a $16.00 price objective (up previously from $14.50) on shares of Callaway Golf in a research note on Wednesday, August 9th. Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 price objective on the stock. in a research note on Saturday, August 5th. Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their price objective for the company from $13.60 to $13.75 in a research note on Monday, August 7th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Monday, August 7th. Finally, Jefferies Group LLC set a $18.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research note on Friday, August 4th.
In related news, SVP Alan Hocknell sold 41,051 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $13.75, for a total transaction of $564,451.25. Following the completion of the sale, the senior vice president now directly owns 73,227 shares of the company’s stock, valued at approximately $1,006,871.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Oliver G. Brewer III sold 131,884 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the sale, the insider now directly owns 291,399 shares of the company’s stock, valued at $3,878,520.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 281,113 shares of company stock valued at $3,792,388. 2.59% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its holdings in shares of Callaway Golf by 69.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after buying an additional 3,426 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Callaway Golf during the 2nd quarter worth $109,000. Flinton Capital Management LLC boosted its holdings in shares of Callaway Golf by 71.6% during the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after buying an additional 4,726 shares during the period. Amalgamated Bank boosted its holdings in shares of Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after buying an additional 160 shares during the period. Finally, Koch Industries Inc. bought a new stake in shares of Callaway Golf during the 1st quarter worth $162,000. 87.46% of the stock is owned by institutional investors and hedge funds.
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Shares of Callaway Golf (NYSE:ELY) traded down 0.14% during trading on Wednesday, hitting $14.54. 2,500,439 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.37 billion, a PE ratio of 8.04 and a beta of 1.17. The stock’s 50 day moving average is $13.76 and its 200 day moving average is $12.67. Callaway Golf has a 1-year low of $9.77 and a 1-year high of $14.75.
Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities research analysts forecast that Callaway Golf will post $0.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, August 18th. Callaway Golf’s dividend payout ratio is currently 2.20%.
Callaway Golf Company Profile
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.
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