Callaway Golf Co (NYSE:ELY) has been given an average rating of “Buy” by the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $24.40.

ELY has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $26.00 target price on shares of Callaway Golf in a research report on Monday, October 29th. B. Riley set a $30.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Sunday, December 2nd. JPMorgan Chase & Co. reissued a “buy” rating and set a $27.00 target price on shares of Callaway Golf in a research report on Thursday, September 27th. Raymond James reissued a “hold” rating on shares of Callaway Golf in a research report on Wednesday. Finally, ValuEngine lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st.

Callaway Golf stock traded down $0.28 on Monday, reaching $16.60. 946,128 shares of the stock were exchanged, compared to its average volume of 1,453,251. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 0.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.28 and a quick ratio of 1.14. Callaway Golf has a twelve month low of $13.49 and a twelve month high of $24.67.

Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ 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 net margin of 9.08% and a return on equity of 16.48%. As a group, sell-side analysts expect that Callaway Golf will post 1.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Tuesday, November 20th. Callaway Golf’s dividend payout ratio is currently 7.55%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Callaway Golf by 1.3% during the third quarter. BlackRock Inc. now owns 13,212,159 shares of the company’s stock valued at $320,921,000 after buying an additional 170,389 shares during 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 valued at $178,259,000 after buying an additional 1,929,680 shares during the last quarter. Northern Trust Corp raised its position in shares of Callaway Golf by 2.9% during the second quarter. Northern Trust Corp now owns 2,184,677 shares of the company’s stock valued at $41,443,000 after buying an additional 60,759 shares during the last quarter. Millennium Management LLC raised its position in shares of Callaway Golf by 7.0% during the second quarter. Millennium Management LLC now owns 1,894,004 shares of the company’s stock valued at $35,929,000 after buying an additional 123,633 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Callaway Golf by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock valued at $39,143,000 after buying an additional 4,130 shares during the last quarter. 88.90% 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.

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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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