Callaway Golf Co (NYSE:ELY) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.33 and last traded at $16.34, with a volume of 507262 shares. The stock had previously closed at $16.06.
A number of analysts have weighed in on ELY shares. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, February 20th. TheStreet raised shares of Callaway Golf from a “c+” rating to a “b” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. started coverage on shares of Callaway Golf in a report on Thursday, December 14th. They set an “overweight” rating and a $18.00 price objective on the stock. Imperial Capital reissued an “outperform” rating on shares of Callaway Golf in a report on Tuesday, January 30th. Finally, KeyCorp raised their price objective on shares of Callaway Golf from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Callaway Golf has an average rating of “Buy” and an average price target of $16.61.
The company has a market capitalization of $1,518.84, a price-to-earnings ratio of 37.35, a P/E/G ratio of 1.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The business had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. equities analysts forecast that Callaway Golf Co will post 0.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th were issued a $0.01 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Callaway Golf’s payout ratio is 9.30%.
In other news, SVP Brian P. Lynch sold 25,911 shares of Callaway Golf stock in a transaction on Friday, February 9th. The shares were sold at an average price of $14.84, for a total value of $384,519.24. Following the transaction, the senior vice president now directly owns 31,599 shares of the company’s stock, valued at approximately $468,929.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard H. Arnett sold 8,193 shares of Callaway Golf stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $16.00, for a total transaction of $131,088.00. Following the completion of the transaction, the senior vice president now directly owns 20,241 shares in the company, valued at $323,856. The disclosure for this sale can be found here. Insiders sold a total of 194,504 shares of company stock worth $3,039,131 over the last ninety days. Corporate insiders own 2.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Callaway Golf by 3.0% in the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after acquiring an additional 351,863 shares during the period. Dimensional Fund Advisors LP increased its stake in Callaway Golf by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after buying an additional 240,520 shares during the period. Glenmede Trust Co. NA increased its stake in Callaway Golf by 21.9% in the 4th quarter. Glenmede Trust Co. NA now owns 3,195,788 shares of the company’s stock valued at $44,515,000 after buying an additional 573,445 shares during the period. Copper Rock Capital Partners LLC increased its stake in Callaway Golf by 24.9% in the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after buying an additional 483,441 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Callaway Golf by 11.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock valued at $20,800,000 after buying an additional 148,068 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.
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About Callaway Golf
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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