Callaway Golf (NYSE:ELY – Get Rating) released its quarterly earnings results on Friday. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04, Briefing.com reports. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Callaway Golf had a net margin of 4.02% and a return on equity of 4.17%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share.
Callaway Golf Stock Performance
ELY opened at $22.82 on Monday. Callaway Golf has a twelve month low of $17.78 and a twelve month high of $34.24. The stock has a market cap of $4.21 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.44 and a beta of 1.76. The business’s 50 day moving average is $21.51 and its 200-day moving average is $22.32. The company has a current ratio of 1.29, a quick ratio of 0.71 and a debt-to-equity ratio of 0.28.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on ELY shares. Roth Capital reiterated a “buy” rating on shares of Callaway Golf in a research note on Wednesday, April 27th. KeyCorp lowered their price target on Callaway Golf from $40.00 to $30.00 in a report on Thursday, May 12th. Berenberg Bank restated a “buy” rating and set a $34.00 price objective on shares of Callaway Golf in a research note on Friday, May 27th. StockNews.com lowered shares of Callaway Golf from a “hold” rating to a “sell” rating in a research note on Thursday, May 19th. Finally, Truist Financial reduced their price target on shares of Callaway Golf from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, April 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.70.
Insider Buying and Selling
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ELY. First Republic Investment Management Inc. boosted its stake in Callaway Golf by 4.2% during the 1st quarter. First Republic Investment Management Inc. now owns 12,759 shares of the company’s stock valued at $299,000 after purchasing an additional 512 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Callaway Golf by 55.7% during the first quarter. Parkside Financial Bank & Trust now owns 3,090 shares of the company’s stock valued at $72,000 after buying an additional 1,106 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Callaway Golf by 89.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,324 shares of the company’s stock worth $124,000 after acquiring an additional 2,519 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Callaway Golf by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,949 shares of the company’s stock worth $1,006,000 after acquiring an additional 4,095 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in Callaway Golf by 33.2% in the first quarter. Guggenheim Capital LLC now owns 17,971 shares of the company’s stock worth $421,000 after acquiring an additional 4,479 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors.
About Callaway Golf
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology used by independent driving ranges and broadcast television; and World Golf Tour digital golf game.
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