Topgolf Callaway Brands Corp. (NYSE:CALY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Topgolf Callaway Brands has a consensus “Moderate Buy” rating from six analysts, with four holds, one buy and one strong buy. The average 12-month price target is $18.25.
• Recent analysts raised their price targets to between $18 and $19, while maintaining ratings ranging from neutral to buy; Zacks upgraded the stock to “strong buy.”
• CALY shares opened at $18.49, near the analyst consensus target, after the company reported quarterly EPS of $0.56 versus expectations of $0.42. Revenue declined 37.1% year over year, and analysts forecast full-year EPS of $0.75.

Shares of Topgolf Callaway Brands Corp. (NYSE:CALY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.25.

A number of brokerages have recently weighed in on CALY. JPMorgan Chase & Co. raised their price target on Topgolf Callaway Brands to $18.00 and gave the company a "neutral" rating in a research report on Thursday, June 11th. Truist Financial boosted their price objective on shares of Topgolf Callaway Brands to $19.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. UBS Group increased their price objective on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Weiss Ratings upgraded shares of Topgolf Callaway Brands from a "sell (d-)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th.

Topgolf Callaway Brands Trading Up 1.4%

CALY stock opened at $18.49 on Friday. The firm's 50 day moving average is $17.51. The firm has a market cap of $3.32 billion, a P/E ratio of 132.09 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.44 and a current ratio of 2.28. Topgolf Callaway Brands has a 12-month low of $8.00 and a 12-month high of $20.28.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.14. Topgolf Callaway Brands had a return on equity of 4.44% and a net margin of 1.05%.The firm's revenue was down 37.1% compared to the same quarter last year. Sell-side analysts forecast that Topgolf Callaway Brands will post 0.75 earnings per share for the current fiscal year.

About Topgolf Callaway Brands

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.

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