Callaway Golf (NYSE:ELY) had its target price decreased by Raymond James from $24.00 to $22.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the stock.

A number of other analysts have also weighed in on the stock. B. Riley restated a buy rating and issued a $30.00 target price on shares of Callaway Golf in a research report on Monday, January 27th. ValuEngine lowered shares of Callaway Golf from a hold rating to a sell rating in a research report on Friday, January 3rd. Zacks Investment Research lowered shares of Callaway Golf from a hold rating to a sell rating in a research report on Tuesday, January 28th. Imperial Capital started coverage on shares of Callaway Golf in a research report on Wednesday, January 29th. They issued an outperform rating and a $26.00 target price on the stock. Finally, Compass Point set a $21.50 target price on shares of Callaway Golf and gave the company a buy rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $23.81.

Callaway Golf stock traded down $0.08 during mid-day trading on Tuesday, reaching $19.46. The company had a trading volume of 1,007,444 shares, compared to its average volume of 956,714. Callaway Golf has a fifty-two week low of $14.49 and a fifty-two week high of $22.33. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.85 billion, a P/E ratio of 24.02, a P/E/G ratio of 0.68 and a beta of 1.32. The business has a fifty day simple moving average of $21.29 and a 200 day simple moving average of $19.93.

Callaway Golf (NYSE:ELY) last issued its earnings results on Monday, February 10th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). Callaway Golf had a net margin of 4.67% and a return on equity of 13.84%. The company had revenue of $312.00 million during the quarter, compared to analyst estimates of $305.49 million. During the same quarter in the prior year, the business earned ($0.32) EPS. The business’s quarterly revenue was up 72.7% on a year-over-year basis. Research analysts forecast that Callaway Golf will post 1.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Callaway Golf’s dividend payout ratio (DPR) is presently 3.64%.

In other news, EVP Glenn F. Hickey sold 24,595 shares of Callaway Golf stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.81, for a total transaction of $536,416.95. Following the transaction, the executive vice president now owns 8,552 shares in the company, valued at $186,519.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.97% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Callaway Golf by 2.0% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 28,800 shares of the company’s stock worth $611,000 after purchasing an additional 570 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Callaway Golf by 1.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,960 shares of the company’s stock worth $784,000 after purchasing an additional 626 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Callaway Golf by 4.6% during the fourth quarter. Victory Capital Management Inc. now owns 15,414 shares of the company’s stock worth $327,000 after purchasing an additional 681 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of Callaway Golf by 13.9% during the third quarter. First Mercantile Trust Co. now owns 6,835 shares of the company’s stock worth $133,000 after purchasing an additional 833 shares during the period. Finally, Argent Capital Management LLC lifted its holdings in Callaway Golf by 0.4% in the fourth quarter. Argent Capital Management LLC now owns 243,160 shares of the company’s stock valued at $5,155,000 after buying an additional 925 shares during the period. Institutional investors own 99.77% 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. 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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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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