ELY has been the subject of a number of other research reports. Zacks Investment Research upgraded Callaway Golf from a sell rating to a hold rating in a research report on Monday, January 28th. Berenberg Bank began coverage on Callaway Golf in a research report on Wednesday, February 13th. They issued a buy rating and a $24.00 price target for the company. Finally, Imperial Capital decreased their price objective on Callaway Golf from $25.00 to $22.00 and set an outperform rating for the company in a research report on Thursday, February 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Callaway Golf presently has an average rating of Buy and a consensus target price of $23.09.
Shares of ELY traded down $0.13 during trading hours on Wednesday, reaching $18.06. 1,460,400 shares of the company’s stock traded hands, compared to its average volume of 1,291,923. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.85 and a current ratio of 1.59. Callaway Golf has a twelve month low of $14.44 and a twelve month high of $24.67.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $516.20 million for the quarter, compared to analyst estimates of $504.07 million. Callaway Golf had a return on equity of 13.42% and a net margin of 6.68%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. Analysts forecast that Callaway Golf will post 1.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Monday, May 20th. Callaway Golf’s dividend payout ratio is currently 3.74%.
In related news, Director Russell L. Fleischer purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $14.75 per share, with a total value of $73,750.00. Following the purchase, the director now directly owns 15,859 shares in the company, valued at $233,920.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Oliver G. Brewer III purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average cost of $15.14 per share, for a total transaction of $151,400.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 21,575 shares of company stock worth $324,630. Company insiders own 1.97% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Callaway Golf by 0.6% in the fourth quarter. BlackRock Inc. now owns 13,292,414 shares of the company’s stock worth $203,375,000 after purchasing an additional 80,255 shares in the last quarter. Vanguard Group Inc. raised its position 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 during the last quarter. FMR LLC raised its position in shares of Callaway Golf by 0.7% during the fourth quarter. FMR LLC now owns 3,809,347 shares of the company’s stock worth $58,283,000 after acquiring an additional 27,426 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Callaway Golf by 19.3% during the first quarter. TimesSquare Capital Management LLC now owns 2,377,630 shares of the company’s stock worth $37,876,000 after acquiring an additional 384,630 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Callaway Golf by 0.4% during the first quarter. Northern Trust Corp now owns 2,131,206 shares of the company’s stock worth $33,950,000 after acquiring an additional 8,643 shares during the last quarter. 89.50% of the stock is currently owned by institutional investors.
About Callaway Golf
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.
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