Topgolf Callaway Brands Corp. (NYSE:CALY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.00.

Several brokerages recently issued reports on CALY. UBS Group upped their target price on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Truist Financial raised their price target on Topgolf Callaway Brands to $19.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $23.00 price objective (up from $19.00) on shares of Topgolf Callaway Brands in a research report on Wednesday.

Topgolf Callaway Brands Trading Down 9.5%

CALY stock opened at $17.30 on Friday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 40.23 and a beta of 0.93. The firm’s 50-day moving average price is $17.82. Topgolf Callaway Brands has a one year low of $8.00 and a one year high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Topgolf Callaway Brands had a net margin of 3.37% and a return on equity of 5.86%. The firm had revenue of $612.20 million for the quarter. The firm’s quarterly revenue was down 44.9% on a year-over-year basis. As a group, sell-side analysts expect that Topgolf Callaway Brands will post 0.79 EPS for the current year.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.