Callaway Golf Co (NYSE:ELY) has been assigned an average rating of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $23.40.
ELY has been the subject of several research analyst reports. Cowen set a $21.00 price target on shares of Callaway Golf and gave the company a “hold” rating in a report on Sunday, August 5th. Compass Point set a $20.00 price target on shares of Callaway Golf and gave the company a “hold” rating in a report on Monday, August 6th. Imperial Capital upped their price target on shares of Callaway Golf from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $27.00 price target on shares of Callaway Golf in a report on Thursday, September 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $26.00 price target on shares of Callaway Golf in a report on Monday, October 29th.
Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Callaway Golf in the second quarter worth $135,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Callaway Golf in the third quarter worth $201,000. Everence Capital Management Inc. bought a new stake in shares of Callaway Golf in the third quarter worth $211,000. Ibex Investors LLC bought a new stake in Callaway Golf during the third quarter worth $218,000. Finally, Bank of The West bought a new stake in Callaway Golf during the third quarter worth $234,000. 89.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE ELY opened at $17.13 on Monday. The company has a market cap of $1.62 billion, a P/E ratio of 32.32, a PEG ratio of 0.65 and a beta of 1.05. The company has a quick ratio of 1.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.01. Callaway Golf has a 52-week low of $13.49 and a 52-week high of $24.67.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.09. The company had revenue of $262.65 million during the quarter, compared to analysts’ expectations of $250.83 million. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. As a group, equities research analysts predict that Callaway Golf will post 1.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Tuesday, November 20th. Callaway Golf’s dividend payout ratio (DPR) is presently 7.55%.
About Callaway Golf
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.
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