Callaway Golf Co (ELY) to Issue $0.01 Quarterly Dividend

Callaway Golf Co (NYSE:ELY) announced a quarterly dividend on Wednesday, January 31st, RTT News reports. Shareholders of record on Wednesday, February 14th will be paid a dividend of 0.01 per share on Wednesday, March 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Tuesday, February 13th.

Callaway Golf has a dividend payout ratio of 7.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Callaway Golf to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 5.1%.

Shares of Callaway Golf (NYSE:ELY) traded up $0.45 during trading hours on Thursday, hitting $15.94. 566,350 shares of the company’s stock were exchanged, compared to its average volume of 997,592. Callaway Golf has a 52 week low of $9.99 and a 52 week high of $16.00. The firm has a market capitalization of $1,429.39, a PE ratio of 37.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The business had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $184.74 million. During the same quarter last year, the company earned ($0.09) EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. sell-side analysts predict that Callaway Golf will post 0.69 EPS for the current year.

ELY has been the topic of a number of analyst reports. Compass Point cut shares of Callaway Golf from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $15.06 to $13.50 in a report on Wednesday, December 27th. Raymond James Financial reiterated a “hold” rating on shares of Callaway Golf in a research report on Wednesday, December 27th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, January 5th. JPMorgan Chase & Co. started coverage on shares of Callaway Golf in a research report on Thursday, December 14th. They issued an “overweight” rating and a $18.00 target price for the company. Finally, DA Davidson set a $18.00 target price on shares of Callaway Golf and gave the company a “buy” rating in a research report on Wednesday, December 27th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $16.40.

In other Callaway Golf news, Director Anthony S. Thornley sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.14, for a total value of $151,400.00. Following the completion of the transaction, the director now directly owns 35,034 shares in the company, valued at $530,414.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian P. Lynch sold 25,911 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the transaction, the senior vice president now owns 31,599 shares of the company’s stock, valued at $468,929.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,487 shares of company stock valued at $1,183,377. Insiders own 2.59% of the company’s stock.

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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.

Dividend History for Callaway Golf (NYSE:ELY)

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