Callaway Golf Co (NYSE:ELY)’s share price reached a new 52-week high and low during mid-day trading on Monday . The company traded as low as $18.67 and last traded at $18.62, with a volume of 13978 shares. The stock had previously closed at $18.50.
A number of equities analysts have recently issued reports on ELY shares. KeyCorp raised their price target on Callaway Golf from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Imperial Capital restated an “outperform” rating on shares of Callaway Golf in a research note on Tuesday, January 30th. Roth Capital set a $17.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Monday, February 5th. Compass Point upgraded Callaway Golf from a “sell” rating to a “neutral” rating and raised their price target for the stock from $13.50 to $14.59 in a research note on Wednesday, February 7th. Finally, Cowen upgraded Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price target on the stock in a research note on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Callaway Golf currently has an average rating of “Buy” and a consensus price target of $17.76.
The firm has a market capitalization of $1.77 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 0.92 and a beta of 1.03. The company has a quick ratio of 0.83, a current ratio of 1.48 and a debt-to-equity ratio of 0.01.
Callaway Golf (NYSE:ELY) last announced its earnings results on Thursday, April 26th. The company reported $0.65 EPS for the quarter, topping the Zacks’ 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 company had revenue of $403.00 million for the quarter, compared to analysts’ expectations of $371.67 million. During the same period last year, the firm earned $0.30 EPS. Callaway Golf’s revenue for the quarter was up 30.4% compared to the same quarter last year. equities analysts predict that Callaway Golf Co will post 0.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 22nd will be issued a $0.01 dividend. The ex-dividend date is Monday, May 21st. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. Callaway Golf’s dividend payout ratio is currently 7.55%.
Callaway Golf declared that its Board of Directors has approved a share buyback program on Wednesday, May 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other Callaway Golf news, insider Alex Mitchell Boezeman sold 32,762 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $17.74, for a total transaction of $581,197.88. Following the sale, the insider now directly owns 74,750 shares of the company’s stock, valued at $1,326,065. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard H. Arnett sold 8,193 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $16.00, for a total value of $131,088.00. Following the sale, 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. Over the last ninety days, insiders sold 187,610 shares of company stock worth $3,161,013. 1.98% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Callaway Golf by 3.0% during the fourth 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 raised its holdings 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 period. Glenmede Trust Co. NA raised its holdings in Callaway Golf by 21.9% during the fourth quarter. Glenmede Trust Co. NA now owns 3,195,788 shares of the company’s stock valued at $44,515,000 after acquiring an additional 573,445 shares during the period. Northern Trust Corp raised its holdings in Callaway Golf by 51.1% during the first quarter. Northern Trust Corp now owns 2,123,918 shares of the company’s stock valued at $34,747,000 after acquiring an additional 718,407 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Callaway Golf by 11.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock valued at $20,800,000 after acquiring an additional 148,068 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.
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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