Several other research analysts have also commented on the company. Cowen boosted their price objective on Callaway Golf from $21.00 to $24.00 and gave the stock a hold rating in a report on Friday, September 28th. JPMorgan Chase & Co. reissued a buy rating and set a $27.00 price objective on shares of Callaway Golf in a report on Thursday, September 27th. Imperial Capital boosted their price objective on Callaway Golf from $21.00 to $25.00 and gave the stock an outperform rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Jefferies Financial Group reissued a buy rating and set a $26.00 price objective on shares of Callaway Golf in a report on Monday, October 29th. Finally, ValuEngine lowered Callaway Golf from a buy rating to a hold rating in a report on Wednesday, November 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Callaway Golf presently has an average rating of Buy and an average price target of $23.91.
Shares of ELY opened at $16.60 on Wednesday. Callaway Golf has a twelve month low of $13.49 and a twelve month high of $24.67. The stock has a market cap of $1.60 billion, a PE ratio of 31.32, a P/E/G ratio of 0.64 and a beta of 1.03. The company has a current ratio of 2.28, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01.
Callaway Golf (NYSE:ELY) last announced 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. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. The firm had revenue of $262.65 million for the quarter, compared to analysts’ expectations of $250.83 million. As a group, sell-side analysts predict that Callaway Golf will post 1.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date is Tuesday, November 20th. Callaway Golf’s dividend payout ratio is currently 7.55%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Callaway Golf by 35.7% in the third quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock worth $178,259,000 after buying an additional 1,929,680 shares in the last quarter. Morgan Stanley boosted its stake in Callaway Golf by 58.0% in the third quarter. Morgan Stanley now owns 1,296,455 shares of the company’s stock worth $31,491,000 after buying an additional 475,786 shares in the last quarter. Legal & General Group Plc boosted its stake in Callaway Golf by 2.4% in the third quarter. Legal & General Group Plc now owns 211,084 shares of the company’s stock worth $5,118,000 after buying an additional 4,925 shares in the last quarter. Kepos Capital LP purchased a new stake in Callaway Golf in the third quarter worth approximately $2,177,000. Finally, Teachers Advisors LLC boosted its stake in Callaway Golf by 3.0% in the third quarter. Teachers Advisors LLC now owns 1,081,862 shares of the company’s stock worth $26,278,000 after buying an additional 31,155 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.
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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