Callaway Golf Co. (ELY) Hits New 12-Month High at $11.82
Callaway Golf Co. (NYSE:ELY) hit a new 52-week high on Tuesday . The stock traded as high as $11.82 and last traded at $11.77, with a volume of 273,138 shares traded. The stock had previously closed at $11.67.
Several equities research analysts have recently weighed in on the company. Forward View reaffirmed a “buy” rating on shares of Callaway Golf in a research report on Sunday, July 24th. Sterne Agee CRT reaffirmed a “buy” rating and issued a $13.00 target price on shares of Callaway Golf in a research report on Thursday, April 28th. Jefferies Group reaffirmed a “buy” rating on shares of Callaway Golf in a research report on Thursday, April 28th. TheStreet raised Callaway Golf from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Callaway Golf in a research report on Sunday, May 1st. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $12.41.
The stock has a market cap of $1.09 billion and a PE ratio of 29.24. The stock’s 50 day moving average is $10.94 and its 200 day moving average is $9.75.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. During the same period in the prior year, the business posted $0.15 earnings per share. The business earned $245.60 million during the quarter, compared to analyst estimates of $242.49 million. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts expect that Callaway Golf Co. will post $0.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 25th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, August 23rd.
An institutional investor recently bought a new position in Callaway Golf stock. Trexquant Investment LP bought a new position in Callaway Golf Co. (NYSE:ELY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 113,635 shares of the company’s stock, valued at approximately $1,070,000. Trexquant Investment LP owned about 0.12% of Callaway Golf at the end of the most recent reporting period.
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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