Callaway Golf Company (NYSE: ELY) stock fell -0.21% on Friday to $23.24 against a previous-day closing price of $23.29. With 2.48 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.84 million shares. During the session, the Leisure company that operates in wider Consumer Cyclical sector, reached to the highest price of $23.77 whereas the lowest price it dropped to was $23.12. The 52-week range on ELY shows that it touched its highest point at $34.24 and its lowest point at $17.78 during that stretch. It currently has a 1-year price target of $35.18. Beta for the stock currently stands at 1.77.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ELY was up-trending over the past week, with a rise of 3.38%, but this was up by 14.48% over a month. Three-month performance surged to 6.51% while six-month performance fell -3.45%. The stock lost -29.70% in the past year, while it has lost -15.31% so far this year. A look at the trailing 12-month EPS for ELY yields 0.68 with Next year EPS estimates of 0.93. For the next quarter, that number is 0.42. This implies an EPS growth rate of 235.10% for this year and 16.92% for next year. EPS is expected to grow by 19.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.70%.
Float and Shares Shorts:
At present, 185.10 million ELY shares are outstanding with a float of 152.52 million shares on hand for trading. On Jul 14, 2022, short shares totaled 14.13 million, which was 7.65% higher than short shares on Jun 14, 2022. In addition to Mr. Oliver G. Brewer III as the firm’s Pres, CEO & Director, Mr. Brian P. Lynch serves as its Exec. VP, Chief Legal Officer & CFO.
Through their ownership of 79.49% of ELY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.30% of ELY, in contrast to 34.37% held by mutual funds. Shares owned by individuals account for 32.39%. As the largest shareholder in ELY with 6.63% of the stake, The Vanguard Group, Inc. holds 12,244,536 shares worth 12,244,536. A second-largest stockholder of ELY, BlackRock Fund Advisors, holds 11,671,556 shares, controlling over 6.32% of the firm’s shares. Boston Partners Global Investors, is the third largest shareholder in ELY, holding 6,613,383 shares or 3.58% stake. With a 2.21% stake in ELY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,079,642 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.90% of ELY stock, is the second-largest Mutual Fund holder. It holds 3,500,074 shares valued at 71.4 million. iShares Core S&P Mid Cap ETF holds 1.81% of the stake in ELY, owning 3,341,034 shares worth 68.16 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ELY since 13 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ELY analysts setting a high price target of $55.00 and a low target of $21.00, the average target price over the next 12 months is $34.75. Based on these targets, ELY could surge 136.66% to reach the target high and fall by -9.64% to reach the target low. Reaching the average price target will result in a growth of 49.53% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ELY will report FY 2022 earnings on 02/08/2023. Analysts have provided yearly estimates in a range of $0.92 being high and $0.70 being low. For ELY, this leads to a yearly average estimate of $0.82. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Callaway Golf Company reported $0.53 EPS against a consensus estimate of $0.53. The surprise factor in the prior quarter was $0.22. Based on analyst estimates, the high estimate for the next quarter is $0.48 and the low estimate is $0.33. The average estimate for the next quarter is thus $0.42.
Summary of Insider Activity:
Insiders traded ELY stock several times over the past three months with 16 Buys and 2 Sells. In these transactions, 50,629 shares were bought while 39,992 shares were sold. The number of buy transactions has increased to 78 while that of sell transactions has risen to 49 over the past year. The total number of shares bought during that period was 2,067,160 while 23,139,419 shares were sold.