Zacks Investment Research upgraded shares of Callaway Golf (NYSE:ELY) from a sell rating to a hold rating in a report issued on Monday.

According to Zacks, “Callaway Golf is renowned for developing innovative products that help golfers hit longer and straighter shots from tee to green; controlled, higher-spinning shots around the green; and smooth, accurate putts. The long list of legendary Callaway products introduced across the past three decades is long, punctuated by the iconic Big Bertha driver and the Great Big Bertha driver, which Golf Digest named the greatest club of all time for its combination of innovation, performance and lasting impact on the golf equipment landscape. Huge number of tournaments, including numerous Major Championships, have been won by Tour pros playing Callaway equipment. Callaway Golf consists of four powerful brands – Callaway, Odyssey, Toulon Design and OGIO – that together offer golfers all over the world everything they need – clubs, balls, bags, apparel, footwear, bags, accessories – to play better and enjoy the game more. “

ELY has been the subject of several other reports. JPMorgan Chase & Co. restated a buy rating and set a $27.00 price objective on shares of Callaway Golf in a research report on Thursday, September 27th. B. Riley set a $30.00 price objective on shares of Callaway Golf and gave the company a buy rating in a research report on Sunday, December 2nd. Compass Point upgraded shares of Callaway Golf from a neutral rating to a buy rating in a research report on Tuesday, December 18th. Roth Capital downgraded shares of Callaway Golf from a buy rating to a hold rating and lowered their price objective for the company from $24.00 to $17.00 in a research report on Monday, December 17th. Finally, Raymond James restated a hold rating on shares of Callaway Golf in a research report on Wednesday, December 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $22.42.

Shares of NYSE ELY traded down $0.21 during midday trading on Monday, reaching $16.36. The company’s stock had a trading volume of 193,429 shares, compared to its average volume of 904,800. The company has a current ratio of 2.28, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. Callaway Golf has a fifty-two week low of $13.49 and a fifty-two week high of $24.67. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 0.58 and a beta of 1.06.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $250.83 million. On average, equities research analysts forecast that Callaway Golf will post 1.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Callaway Golf’s dividend payout ratio (DPR) is presently 7.55%.

Large investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Callaway Golf in the second quarter worth $135,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Callaway Golf in the third quarter worth $201,000. Everence Capital Management Inc. bought a new stake in shares of Callaway Golf in the third quarter worth $211,000. Ibex Investors LLC bought a new stake in shares of Callaway Golf in the third quarter worth $218,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Callaway Golf in the second quarter worth $227,000. Institutional investors own 88.78% of the company’s stock.

Callaway Golf Company Profile

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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