A number of other analysts also recently commented on the company. Compass Point downgraded Callaway Golf from a neutral rating to a sell rating and decreased their price target for the company from $15.06 to $13.50 in a research report on Wednesday, December 27th. Raymond James Financial reaffirmed a hold rating on shares of Callaway Golf in a research report on Wednesday, December 27th. Zacks Investment Research raised Callaway Golf from a hold rating to a buy rating and set a $15.00 price objective for the company in a report on Friday, January 5th. JPMorgan Chase & Co. initiated coverage on Callaway Golf in a report on Thursday, December 14th. They set an overweight rating and a $18.00 price objective for the company. Finally, DA Davidson set a $18.00 price objective on Callaway Golf and gave the company a buy rating in a report on Wednesday, December 27th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $16.40.
Shares of Callaway Golf (NYSE:ELY) opened at $15.76 on Wednesday. The company has a market capitalization of $1,490.00, a P/E ratio of 37.52, a P/E/G ratio of 1.50 and a beta of 1.15. Callaway Golf has a 52-week low of $9.99 and a 52-week high of $16.01.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. The company had revenue of $192.00 million during the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. Callaway Golf’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. analysts predict that Callaway Golf will post 0.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.25%. The ex-dividend date is Tuesday, February 13th. Callaway Golf’s dividend payout ratio (DPR) is 9.52%.
In other news, Director Anthony S. Thornley sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.14, for a total value of $151,400.00. Following the completion of the transaction, the director now directly owns 35,034 shares of the company’s stock, valued at $530,414.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil Howie sold 68,824 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $15.76, for a total value of $1,084,666.24. Following the completion of the transaction, the insider now directly owns 133,001 shares of the company’s stock, valued at $2,096,095.76. The disclosure for this sale can be found here. Insiders sold 146,311 shares of company stock valued at $2,268,043 over the last ninety days. Corporate insiders own 2.59% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in shares of Callaway Golf in the fourth quarter worth $142,000. Allianz Asset Management GmbH bought a new stake in Callaway Golf during the third quarter valued at $182,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Callaway Golf during the second quarter valued at $194,000. Investors Research Corp bought a new stake in Callaway Golf during the fourth quarter valued at $217,000. Finally, California Public Employees Retirement System boosted its stake in Callaway Golf by 48.3% during the third quarter. California Public Employees Retirement System now owns 15,864 shares of the company’s stock valued at $229,000 after buying an additional 5,164 shares during the period. 88.56% of the stock is owned by hedge funds and other institutional investors.
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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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