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ELY

Callaway Golf

$11.27

-0.17 (-1.49%)

16:21
01/11/17
01/11
16:21
01/11/17
16:21

Callaway Golf acquires OGIO International for $75.5M in cash

Callaway Golf announced it has acquired OGIO International, Inc. for $75.5M in an all-cash transaction, subject to a working capital adjustment. The acquisition enhances Callaway's presence in golf while also providing a platform for future growth in the lifestyle category. Excluding non-recurring transaction and transition expenses, Callaway's management expects the acquisition to be immediately accretive to earnings. Callaway projects the acquired business will generate annual EBITDA of approximately $10M after the acquisition is integrated and the majority of operational synergies are realized. Callaway estimates that the majority of the operational synergies will be realized within two years. The purchase price values OGIO at a multiple of approximately 7.6x this projected EBITDA. Callaway also expects to realize significant value from potential tax benefits associated with the transaction. In 2017, OGIO is expected to contribute to Callaway approximately $45M in revenue. After absorbing non-recurring transaction and transition expenses of approximately $7M, OGIO is expected to be dilutive by approximately 2c to Callaway's 2017 earnings per share but is expected to be accretive thereafter.

ELY Callaway Golf
$11.27

-0.17 (-1.49%)

11/04/16
COMP
11/04/16
UPGRADE
COMP
Buy
Callaway Golf upgraded to Buy from Neutral at Compass Point
11/04/16
COMP
11/04/16
UPGRADE
Target $11.5
COMP
Buy
Callaway Golf upgraded to Buy at Compass Point
As previously reported, Compass Point analyst Casey Alexander upgraded Callaway Golf to Buy from Neutral after the company posted better than expected results and raised guidance. Noting that the stock has declined 16% since September, Alexander said he now sees the valuation as being favorable. He trimmed his price target on Callaway shares to $11.50 from $12.
11/14/16
COMP
11/14/16
DOWNGRADE
COMP
Neutral
Callaway Golf downgraded to Neutral from Buy at Compass Point
11/14/16
11/14/16
DOWNGRADE
Target $11.5

Neutral
Callaway Golf downgraded to Neutral on valuation at Compass Point
As previously reported, Compass Point downgraded Callaway Golf to Neutral from Buy. Analyst Casey Alexander reduced his rating citing valuation and and maintained its $11.50 price target.

TODAY'S FREE FLY STORIES

BLDR

Builders FirstSource

$19.52

0.07 (0.36%)

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FUN

Cedar Fair

$67.06

0.51 (0.77%)

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  • 28

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HOG

Harley-Davidson

$47.26

-0.42 (-0.88%)

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Polaris Industries

$123.17

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Wedbush leisure analyst holds an analyst/industry luncheon meeting »

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PEP

PepsiCo

$115.91

0.83 (0.72%)

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NSANY

Nissan

$19.10

-0.07 (-0.37%)

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  • 16

    Jan

ECYT

Endocyte

$4.82

0.07 (1.47%)

, PGNX

Progenics

$5.59

0.06 (1.09%)

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Endocyte

$4.82

0.07 (1.47%)

PGNX

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CBI

CB&I

$15.46

-0.16 (-1.02%)

11:35
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CB&I put volume heavy and directionally bearish »

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  • 28

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AAPL

Apple

$174.96

1.82 (1.05%)

11:20
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Active trading in Apple expiring options »

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DIS

Disney

$102.78

0.04 (0.04%)

, VIAB

Viacom

$26.68

-0.58 (-2.13%)

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DIS

Disney

$102.78

0.04 (0.04%)

VIAB

Viacom

$26.68

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LGF.B

Lionsgate

$31.68

0.355 (1.13%)

SNE

Sony

$47.92

0.7 (1.48%)

LGF.A

Lionsgate

$33.31

0.33 (1.00%)

FOXA

21st Century Fox

$30.61

-0.27 (-0.87%)

FOX

21st Century Fox

$29.94

-0.16 (-0.53%)

CMCSK

Comcast

CMCSA

Comcast

$36.41

-0.01 (-0.03%)

TWX

Time Warner

$89.91

-0.1 (-0.11%)

VIA

Viacom

$32.90

-0.45 (-1.35%)

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  • 28

    Nov

$NSD

NASDAQ Market Internals

11:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

11:16
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NYSE market internals summary »

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GNC

GNC Holdings

$5.65

0.2 (3.67%)

11:15
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GNC Holdings put volume heavy and directionally bearish »

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OSTK

Overstock.com

$61.05

0.6 (0.99%)

11:05
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Options
Overstock com call volume above normal and directionally bullish »

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M

Macy's

$21.56

0.93 (4.51%)

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Macy's calls outpace puts 2:1 as shares see strength »

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  • 18

    Mar

GM

General Motors

$44.37

0.075 (0.17%)

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10K GM Dec 44 calls sold at $1.20 »

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  • 30

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M

Macy's

$21.57

0.9366 (4.54%)

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  • 18

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MSON

Misonix

$10.58

0.025 (0.24%)

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TCEHY

Tencent

$54.89

-1.01 (-1.81%)

, NTDOY

Nintendo

$50.55

0.72 (1.44%)

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Tencent denies rumor of Nintendo gaming JV in China, Marbridge Daily says »

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TCEHY

Tencent

$54.89

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NTDOY

Nintendo

$50.55

0.72 (1.44%)

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AMZN

Amazon.com

$1,175.50

19.08 (1.65%)

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  • 18

    Mar

UEPS

Net 1 UEPS

$12.28

2.16 (21.34%)

10:30
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Notable new position opened in Net 1 Ueps Tech as shares stumble »

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FORR

Forrester

$46.55

-0.15 (-0.32%)

10:25
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Forrester management to meet with Sidoti »

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  • 29

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  • 05

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MRO

Marathon Oil

$15.04

0.161 (1.08%)

10:25
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Options
Marathon Oil call volume above normal and directionally bullish »

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  • 28

    Nov

GRC

Gorman-Rupp

$32.18

-0.29 (-0.89%)

10:24
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Gorman-Rupp management to meet with Sidoti »

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  • 29

    Nov

SKYW

SkyWest

$50.40

-1 (-1.95%)

10:22
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SkyWest management to meet with Sidoti »

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  • 29

    Nov

SFTBF

SoftBank

$86.40

0.88 (1.03%)

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Uber informed SoftBank about data breach before going public, NY Post reports »

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