ValuEngine Lowers Callaway Golf (ELY) to Hold

ValuEngine cut shares of Callaway Golf (NYSE:ELY) from a buy rating to a hold rating in a report issued on Wednesday.

Several other research firms have also issued reports on ELY. Cowen set a $21.00 price target on Callaway Golf and gave the stock a hold rating in a research report on Sunday, August 5th. Roth Capital lifted their price target on Callaway Golf from $20.00 to $24.00 and gave the stock a buy rating in a research report on Friday, August 3rd. Imperial Capital lifted their price target on Callaway Golf from $21.00 to $25.00 and gave the stock an outperform rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a buy rating and issued a $26.00 price target on shares of Callaway Golf in a research report on Monday, October 29th. Finally, KeyCorp lifted their price target on Callaway Golf from $23.00 to $25.00 and gave the stock an overweight rating in a research report on Friday, August 3rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $23.00.

ELY opened at $19.36 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.85 billion, a PE ratio of 36.53, a P/E/G ratio of 0.74 and a beta of 1.05. Callaway Golf has a 1 year low of $13.49 and a 1 year high of $24.67.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.09. The firm had revenue of $262.65 million during the quarter, compared to analyst estimates of $250.83 million. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. Sell-side analysts forecast that Callaway Golf will post 1.05 earnings per share for the current fiscal year.

The firm 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Tuesday, November 20th. Callaway Golf’s dividend payout ratio (DPR) is 7.55%.

A number of large investors have recently modified their holdings of ELY. LPL Financial LLC raised its position in Callaway Golf by 69.3% in the 1st quarter. LPL Financial LLC now owns 17,088 shares of the company’s stock worth $279,000 after buying an additional 6,992 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Callaway Golf by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 775,442 shares of the company’s stock valued at $12,686,000 after purchasing an additional 6,479 shares during the period. James Investment Research Inc. bought a new stake in shares of Callaway Golf during the 2nd quarter valued at about $2,116,000. Acadian Asset Management LLC grew its stake in shares of Callaway Golf by 74.7% during the 2nd quarter. Acadian Asset Management LLC now owns 350,359 shares of the company’s stock valued at $6,647,000 after purchasing an additional 149,832 shares during the period. Finally, Alps Advisors Inc. bought a new stake in shares of Callaway Golf during the 2nd quarter valued at about $468,000. 89.70% of the stock is owned by institutional investors and hedge funds.

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 in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

Further Reading: What is a Stop Order?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Callaway Golf (NYSE:ELY)

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