Callaway Golf Company (NYSE:ELY) is a stock to watch today. At current price of $20.85, the shares have already added 0.5 points (2.46% higher) from its previous close of $20.35. The stock sets an active trading volume day with a reported 240275 contracts so far this session. ELY shares had a relatively better volume day versus average trading capacity of 1.04 million shares, but with a 92.39 million float and a -2.49% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ELY stock indicates that the average analyst price target is $24.46 per share. This means the stock has a potential increase of 17.31% from where the ELY share price has been trading recently which is between $20.28 and $20.64.
During the recent trading session for Callaway Golf Company (NYSE:ELY), the company witnessed their stock drop by $-0.11 over a week and surge $1.18 from the price 20 days ago. When compared to their established 52-week high of $21.54, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/25/19. The recent low of $14.44 stood for a -3.2% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.27 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Callaway Golf Company, the two-week RSI stands at 58.28. This figure suggests that ELY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ELY readings is similarly very revealing as it has a stochastic reading of 68% at this stage. This figure means that ELY share price today is being neutral.
Technical chart claims that Callaway Golf Company (ELY) would settle between $20.57/share to $20.78/share level. However, if the stock price goes below the $20.21 mark, then the market for Callaway Golf Company becomes much weaker. If that happens, the stock price might even plunge as low as $20.06 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James raised their recommendation on shares of ELY from Mkt Perform to Outperform in their opinion released on September 11. Stephens analysts bumped their rating on Callaway Golf Company (NYSE:ELY) stock from Equal-Weight to Overweight in a separate flash note issued to investors on August 09. Analysts at Berenberg, made their first call for the equity with a Buy recommendation, according to a research note that dated back to February 13.
ELY equity has an average rating of 2.47, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Callaway Golf Company (NYSE:ELY) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ELY stock price is currently trading at 16.79X forward 12-month Consensus EPS estimates, and its P/E ratio is 24.2 while for the average stock in the same group, the multiple is 26. Callaway Golf Company current P/B ratio of 2.5 means it is trading at a discount against its industry’s 2.9.
Callaway Golf Company (ELY)’s current-quarter revenues are projected to climb by nearly 69.2% to hit $305790, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 36.4% from $1.24 billion to a noteworthy $1.69 billion. At the other end of the current quarter income statement, Callaway Golf Company is expected to see its adjusted earnings surge by roughly 28.1% to hit $-0.23 per share. For the fiscal year, ELY’s earnings are projected to climb by roughly 3.7% to hit $1.11 per share.