Callaway Golf (ELY) Rating Reiterated by Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Callaway Golf (NYSE:ELY) in a report published on Sunday morning, AnalystRatings.com reports. Berenberg Bank currently has a $24.00 target price on the stock.

A number of other analysts also recently weighed in on ELY. Zacks Investment Research downgraded Callaway Golf from a hold rating to a sell rating in a research report on Monday, January 14th. Imperial Capital dropped their target price on Callaway Golf from $25.00 to $22.00 and set an outperform rating for the company in a research report on Thursday, February 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Callaway Golf currently has a consensus rating of Buy and an average price target of $22.91.

Shares of ELY opened at $15.66 on Friday. The stock has a market cap of $1.50 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. Callaway Golf has a 12-month low of $14.44 and a 12-month high of $24.67.



Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.14. The firm had revenue of $516.20 million during the quarter, compared to the consensus estimate of $504.07 million. Callaway Golf had a return on equity of 13.42% and a net margin of 6.68%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, equities analysts forecast that Callaway Golf will post 1.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. Callaway Golf’s payout ratio is 3.74%.

A number of large investors have recently added to or reduced their stakes in ELY. Vanguard Group Inc. lifted its position in Callaway Golf by 35.7% in the third quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after purchasing an additional 1,929,680 shares during the last quarter. Norges Bank bought a new stake in Callaway Golf in the fourth quarter valued at approximately $23,058,000. Peregrine Capital Management LLC bought a new stake in Callaway Golf in the first quarter valued at approximately $20,017,000. Rice Hall James & Associates LLC bought a new stake in Callaway Golf in the first quarter valued at approximately $10,811,000. Finally, Kennedy Capital Management Inc. lifted its position in Callaway Golf by 283.4% in the first quarter. Kennedy Capital Management Inc. now owns 738,298 shares of the company’s stock valued at $11,761,000 after purchasing an additional 545,721 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

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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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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