Callaway Golf Co (NYSE:ELY) On Expansion Mode


Dallas, Texas 01/23/2014 (FINANCIALSTRENDS) – Callaway Golf Co (NYSE:ELY) is driving on the expansion mode with a series of licensing agreements and more. The company has in the past six months been working under a license agreement with Perris Ellis to enter new markets for Callaway. Through the Perry Ellis name, the company has chosen to offer range of golfing apparel as well as products in markets such as Europe along with Middle East and Africa.

Callaway Golf Co (NYSE:ELY) has also announced that it will move forward on other fronts of development. The company has committed to bringing in higher funds for the development of infrastructure for the company. However, it has also stated that this will be possible only in the second quarter and later of 2014.

Callaway Golf Co (NYSE:ELY) sees a need in expanding its infrastructure as it moves forward into global expansionist mode. The company not only has to improve its manufacturing facilities but focus on value-additions such as design and development as well for the overseas markets. The third quarter results for the company have been good, with the company recording 34% to 21% in quarter 2012.

Callaway Golf Co (NYSE:ELY) is a $670.77 million market cap company which trades in volumes of 618,192. The company has in over 52 weeks seen high of $9.16 and low of $6.15. The current stock price range is $9.00, which is slight drop in gains of 1.53 % over previous closing. The company reports an EPS of -0.76.

United States based Callaway Golf Co (NYSE:ELY) is an international brand name in the design, manufacturing and selling of golf clubs as well as golf balls. The company is known to operate along with subsidiaries to bring a wide range of golf gaming products.

The company has now received an upgrade by Raymond James to Strong Buy indicating high turnaround on prospects.

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