Callaway Golf (ELY) Sets New 52-Week High and Low at $19.83

Callaway Golf Co (NYSE:ELY) hit a new 52-week high and low during trading on Thursday . The company traded as low as $19.83 and last traded at $19.61, with a volume of 24957 shares changing hands. The stock had previously closed at $19.72.

Several research analysts recently issued reports on ELY shares. Cowen raised Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 target price on the stock in a research report on Wednesday, February 7th. Imperial Capital lifted their target price on Callaway Golf from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, May 3rd. Zacks Investment Research raised Callaway Golf from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, April 26th. KeyCorp lifted their target price on Callaway Golf from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, April 27th. Finally, TheStreet raised Callaway Golf from a “c+” rating to a “b” rating in a research report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Callaway Golf has a consensus rating of “Buy” and a consensus price target of $17.97.

The company has a quick ratio of 0.83, a current ratio of 1.48 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, April 26th. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.14. Callaway Golf had a return on equity of 12.78% and a net margin of 6.82%. The business had revenue of $403.00 million for the quarter, compared to analysts’ expectations of $371.67 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s revenue was up 30.4% on a year-over-year basis. analysts anticipate that Callaway Golf Co will post 0.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Tuesday, May 22nd will be given a $0.01 dividend. The ex-dividend date is Monday, May 21st. This represents a $0.04 annualized dividend and a yield of 0.21%. Callaway Golf’s dividend payout ratio is currently 7.55%.

Callaway Golf declared that its board has authorized a stock buyback program on Wednesday, May 9th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other Callaway Golf news, insider Oliver G. Brewer III sold 25,721 shares of the business’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $17.00, for a total value of $437,257.00. Following the transaction, the insider now owns 382,316 shares of the company’s stock, valued at $6,499,372. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark F. Leposky sold 21,768 shares of the business’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $19.00, for a total value of $413,592.00. Following the completion of the sale, the vice president now owns 140,500 shares in the company, valued at $2,669,500. The disclosure for this sale can be found here. In the last three months, insiders sold 182,952 shares of company stock worth $3,227,973. Insiders own 2.59% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. raised its stake in shares of Callaway Golf by 587.5% in the first quarter. Thompson Davis & CO. Inc. now owns 6,875 shares of the company’s stock valued at $112,000 after buying an additional 5,875 shares during the period. Massey Quick Simon & CO. LLC raised its stake in shares of Callaway Golf by 100.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 9,080 shares of the company’s stock valued at $149,000 after buying an additional 4,540 shares during the period. Elkfork Partners LLC bought a new stake in shares of Callaway Golf in the fourth quarter valued at $171,000. Xact Kapitalforvaltning AB bought a new stake in shares of Callaway Golf in the fourth quarter valued at $173,000. Finally, Horizon Investment Services LLC bought a new stake in shares of Callaway Golf in the first quarter valued at $192,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Callaway Golf Company Profile

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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