Callaway Golf (ELY) Shares Gap Down to $19.08

Callaway Golf Co (NYSE:ELY) gapped down prior to trading on Wednesday . The stock had previously closed at $18.40, but opened at $19.08. Callaway Golf shares last traded at $19.55, with a volume of 62660 shares changing hands.

A number of brokerages recently issued reports on ELY. Imperial Capital upped their price objective on shares of Callaway Golf from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Compass Point set a $20.00 price objective on shares of Callaway Golf and gave the company a “hold” rating in a report on Monday, August 6th. Roth Capital upped their price objective on shares of Callaway Golf from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $26.00 price objective on shares of Callaway Golf in a report on Monday, October 29th. Finally, Cowen upped their price objective on shares of Callaway Golf from $21.00 to $24.00 and gave the company a “hold” rating in a report on Friday, September 28th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.00.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.28. The stock has a market cap of $1.85 billion, a P/E ratio of 36.87, a PEG ratio of 0.74 and a beta of 1.05.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, October 24th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.09. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. The company had revenue of $262.65 million for the quarter, compared to analysts’ expectations of $250.83 million. On average, research analysts predict that Callaway Golf Co will post 1.05 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. Callaway Golf’s payout ratio is currently 7.55%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ELY. Itau Unibanco Holding S.A. acquired a new position in Callaway Golf in the second quarter valued at about $135,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Callaway Golf during the third quarter worth about $201,000. Everence Capital Management Inc. acquired a new stake in shares of Callaway Golf during the third quarter worth about $211,000. NumerixS Investment Technologies Inc lifted its position in shares of Callaway Golf by 348.0% during the second quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock worth $215,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Ibex Investors LLC acquired a new stake in shares of Callaway Golf during the third quarter worth about $218,000. 89.70% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.wkrb13.com/2018/11/23/callaway-golf-ely-shares-gap-down-to-19-08.html.

About Callaway Golf (NYSE:ELY)

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.

Further Reading: Dividend Aristocrat Index

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply