Callaway Golf (ELY) Reaches New 1-Year High at $23.93

Callaway Golf Co (NYSE:ELY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.93 and last traded at $23.45, with a volume of 57909 shares traded. The stock had previously closed at $23.79.

A number of equities research analysts have recently issued reports on the stock. Imperial Capital increased their price target on shares of 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. Cowen set a $21.00 price target on shares of Callaway Golf and gave the stock a “hold” rating in a report on Sunday, August 5th. Roth Capital increased their price target on shares of Callaway Golf from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $23.00 price target on shares of Callaway Golf in a report on Thursday, June 14th. Finally, KeyCorp increased their price target on shares of Callaway Golf from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, August 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.42.

The company has a current ratio of 1.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 44.66, a P/E/G ratio of 0.94 and a beta of 1.04.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The company had revenue of $396.31 million for the quarter, compared to analysts’ expectations of $371.30 million. Callaway Golf had a net margin of 8.70% and a return on equity of 16.39%. Callaway Golf’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. equities analysts forecast that Callaway Golf Co will post 1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Monday, August 13th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Friday, August 10th. Callaway Golf’s dividend payout ratio (DPR) is 7.55%.

In related news, VP Mark F. Leposky sold 21,767 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $21.74, for a total value of $473,214.58. Following the transaction, the vice president now directly owns 140,499 shares in the company, valued at $3,054,448.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ELY. BlackRock Inc. grew its position in Callaway Golf by 8.3% during the second quarter. BlackRock Inc. now owns 13,041,770 shares of the company’s stock valued at $247,402,000 after acquiring an additional 999,297 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Callaway Golf by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 7,238,863 shares of the company’s stock valued at $118,428,000 after acquiring an additional 282,436 shares during the last quarter. Northern Trust Corp grew its position in Callaway Golf by 2.9% during the second quarter. Northern Trust Corp now owns 2,184,677 shares of the company’s stock valued at $41,443,000 after acquiring an additional 60,759 shares during the last quarter. Millennium Management LLC grew its position in Callaway Golf by 7.0% during the second quarter. Millennium Management LLC now owns 1,894,004 shares of the company’s stock valued at $35,929,000 after acquiring an additional 123,633 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Callaway Golf by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,607,354 shares of the company’s stock valued at $30,492,000 after acquiring an additional 47,097 shares during the last quarter. Institutional investors own 90.22% of the company’s stock.

Callaway Golf Company Profile (NYSE:ELY)

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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