Callaway Golf (ELY) Research Coverage Started at Stephens

Stephens initiated coverage on shares of Callaway Golf (NYSE:ELY) in a research report released on Tuesday, Marketbeat reports. The firm issued an equal weight rating and a $17.00 price target on the stock.

ELY has been the subject of a number of other reports. Compass Point upgraded shares of Callaway Golf from a neutral rating to a buy rating in a research report on Tuesday, December 18th. Raymond James reiterated a hold rating on shares of Callaway Golf in a research report on Wednesday, December 5th. Zacks Investment Research lowered shares of Callaway Golf from a buy rating to a hold rating in a research report on Tuesday, December 25th. JPMorgan Chase & Co. reiterated a buy rating and set a $27.00 target price on shares of Callaway Golf in a research report on Thursday, September 27th. Finally, Roth Capital lowered shares of Callaway Golf from a buy rating to a hold rating and dropped their target price for the company from $24.00 to $17.00 in a research report on Monday, December 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Callaway Golf presently has an average rating of Hold and an average price target of $22.42.

Shares of ELY stock traded up $0.01 during trading hours on Tuesday, reaching $16.31. The stock had a trading volume of 18,752 shares, compared to its average volume of 970,285. 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 has a 12 month low of $13.74 and a 12 month high of $24.67. The firm has a market capitalization of $1.57 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 0.61 and a beta of 1.06.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Wednesday, October 24th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. The company had revenue of $262.65 million during the quarter, compared to analyst estimates of $250.83 million. Sell-side analysts predict that Callaway Golf will post 1.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, November 20th. Callaway Golf’s dividend payout ratio (DPR) is presently 7.55%.

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Callaway Golf by 1.3% during the third quarter. BlackRock Inc. now owns 13,212,159 shares of the company’s stock worth $320,921,000 after acquiring an additional 170,389 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Callaway Golf by 35.7% during the third quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock worth $178,259,000 after acquiring an additional 1,929,680 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Callaway Golf by 35.7% during the third quarter. Vanguard Group Inc now owns 7,338,764 shares of the company’s stock worth $178,259,000 after acquiring an additional 1,929,680 shares in the last quarter. Northern Trust Corp raised its stake in shares of Callaway Golf by 2.9% during the second quarter. Northern Trust Corp now owns 2,184,677 shares of the company’s stock worth $41,443,000 after acquiring an additional 60,759 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Callaway Golf by 7.0% during the second quarter. Millennium Management LLC now owns 1,894,004 shares of the company’s stock worth $35,929,000 after acquiring an additional 123,633 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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