Callaway Golf Co. (ELY) Reaches New 1-Year High at $10.63
Shares of Callaway Golf Co. (NYSE:ELY) reached a new 52-week high on Monday . The stock traded as high as $10.63 and last traded at $10.61, with a volume of 217,312 shares changing hands. The stock had previously closed at $10.51.
Several research firms recently weighed in on ELY. Sterne Agee CRT restated a “buy” rating on shares of Callaway Golf in a report on Monday, May 16th. Zacks Investment Research raised Callaway Golf from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, April 14th. Vetr raised Callaway Golf from a “buy” rating to a “strong-buy” rating and set a $12.50 price objective on the stock in a research report on Monday, June 13th. DA Davidson reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Callaway Golf in a research report on Sunday, May 1st. Finally, Imperial Capital started coverage on Callaway Golf in a research report on Tuesday, March 15th. They issued an “outperform” rating and a $12.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $12.32.
The stock has a market cap of $992.96 million and a price-to-earnings ratio of 59.38. The stock has a 50-day moving average price of $10.18 and a 200-day moving average price of $9.28.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. The company had revenue of $274.10 million for the quarter, compared to analysts’ expectations of $280.86 million. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. On average, analysts forecast that Callaway Golf Co. will post $0.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, May 25th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%.
Other institutional investors recently made changes to their positions in the company. I.G. Investment Management LTD. bought a new position in shares of Callaway Golf during the fourth quarter worth approximately $1,386,000. Trexquant Investment LP bought a new position in shares of Callaway Golf during the fourth quarter worth approximately $1,070,000. Ashford Investment Management LLC bought a new position in shares of Callaway Golf during the fourth quarter worth approximately $4,286,000. Boston Partners increased its position in shares of Callaway Golf by 7.0% in the fourth quarter. Boston Partners now owns 816,980 shares of the company’s stock worth $7,696,000 after buying an additional 53,720 shares during the last quarter. Finally, EAM Investors LLC increased its position in shares of Callaway Golf by 27.6% in the fourth quarter. EAM Investors LLC now owns 459,573 shares of the company’s stock worth $4,329,000 after buying an additional 99,305 shares during the last quarter.
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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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