Callaway Golf (NYSE:ELY) had its target price hoisted by stock analysts at SunTrust Banks from $16.00 to $20.00 in a report issued on Monday, The Fly reports. The firm presently has a “buy” rating on the stock. SunTrust Banks’ price objective would indicate a potential upside of 13.06% from the stock’s current price. SunTrust Banks also issued estimates for Callaway Golf’s Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.18 EPS and Q3 2021 earnings at $0.29 EPS.
Other equities research analysts have also recently issued reports about the company. Raymond James increased their target price on Callaway Golf from $14.50 to $17.50 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Stephens upped their price target on Callaway Golf from $17.00 to $21.00 in a report on Wednesday, June 10th. B. Riley lowered their price target on Callaway Golf from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. ValuEngine raised Callaway Golf from a “sell” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Zacks Investment Research raised Callaway Golf from a “sell” rating to a “hold” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $20.82.
NYSE ELY opened at $17.69 on Monday. Callaway Golf has a 12 month low of $4.75 and a 12 month high of $22.33. The stock has a market cap of $1.66 billion, a P/E ratio of 29.00 and a beta of 1.97. The stock’s fifty day moving average price is $15.50 and its 200-day moving average price is $16.21. The company has a current ratio of 1.44, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.
Callaway Golf (NYSE:ELY) last released its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Callaway Golf had a return on equity of 9.95% and a net margin of 3.67%. The firm had revenue of $442.28 million for the quarter, compared to analysts’ expectations of $440.70 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 14.3% on a year-over-year basis. As a group, analysts forecast that Callaway Golf will post 0.29 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ELY. Verus Capital Partners LLC lifted its holdings in Callaway Golf by 400.0% in the first quarter. Verus Capital Partners LLC now owns 2,500 shares of the company’s stock valued at $26,000 after acquiring an additional 2,000 shares during the period. TRUE Private Wealth Advisors bought a new position in shares of Callaway Golf in the first quarter worth about $28,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of Callaway Golf in the fourth quarter worth about $29,000. Islay Capital Management LLC bought a new position in shares of Callaway Golf in the fourth quarter worth about $34,000. Finally, Mutual of America Capital Management LLC raised its stake in shares of Callaway Golf by 22.5% in the first quarter. Mutual of America Capital Management LLC now owns 4,133 shares of the company’s stock worth $42,000 after buying an additional 760 shares during the period. 95.78% of the stock is currently owned by institutional investors.
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. 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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