Callaway Golf (ELY) Receiving Somewhat Positive Press Coverage, Analysis Finds

News stories about Callaway Golf (NYSE:ELY) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Callaway Golf earned a media sentiment score of 0.00 on Accern’s scale. Accern also gave press coverage about the company an impact score of 46.6566574874763 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

These are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:

Shares of Callaway Golf (NYSE:ELY) remained flat at $12.98 during midday trading on Friday. 835,875 shares of the stock traded hands. Callaway Golf has a 12-month low of $9.77 and a 12-month high of $13.70. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 7.18 and a beta of 1.20. The company has a 50-day moving average price of $12.75 and a 200 day moving average price of $11.92.

Callaway Golf (NYSE:ELY) last issued its earnings results on Thursday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The company had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. Callaway Golf’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities research analysts predict that Callaway Golf will post $0.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Callaway Golf’s payout ratio is 2.20%.

Several analysts recently issued reports on ELY shares. BidaskClub lowered Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC set a $17.00 price objective on Callaway Golf and gave the stock a “buy” rating in a report on Tuesday, June 6th. Imperial Capital reiterated an “outperform” rating and set a $16.00 price objective (up from $14.50) on shares of Callaway Golf in a report on Wednesday, August 9th. Cowen and Company began coverage on Callaway Golf in a report on Wednesday, June 14th. They set a “market perform” rating and a $14.00 price objective for the company. Finally, Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Monday, August 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $14.90.

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In other news, SVP Alan Hocknell sold 57,138 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.30, for a total value of $759,935.40. Following the sale, the senior vice president now directly owns 115,045 shares of the company’s stock, valued at approximately $1,530,098.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Oliver G. Brewer III sold 131,884 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the completion of the sale, the insider now directly owns 291,399 shares in the company, valued at $3,878,520.69. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by corporate insiders.

Callaway Golf Company Profile

Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.

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