Topgolf Callaway Brands (NYSE:CALY) Issues Earnings Results

Key Points

• Topgolf Callaway Brands reported quarterly EPS of $0.39, exceeding the consensus estimate of $0.35. Net margin was 1.05%, while return on equity stood at 4.44%.
• Shares rose $0.45 to $19.54 on Tuesday, near the company’s 12-month high of $20.28. The company has a $3.51 billion market capitalization and a price-to-earnings ratio of 139.55.
• Analyst sentiment is generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $18.25; recent actions included upgrades from Zacks Research and Wall Street Zen.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) issued its earnings results on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04, Zacks reports. Topgolf Callaway Brands had a net margin of 1.05% and a return on equity of 4.44%.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.45 on Tuesday, hitting $19.54. The company had a trading volume of 2,970,873 shares, compared to its average volume of 2,753,654. The company has a 50-day simple moving average of $17.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.28 and a quick ratio of 1.44. Topgolf Callaway Brands has a twelve month low of $8.00 and a twelve month high of $20.28. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 139.55 and a beta of 0.92.

Analyst Ratings Changes

A number of equities analysts have issued reports on CALY shares. Zacks Research raised shares of Topgolf Callaway Brands from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. Truist Financial increased their price target on Topgolf Callaway Brands to $19.00 and gave the company a "buy" rating in a research note on Monday, June 15th. UBS Group raised their price target on Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Wall Street Zen raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, JPMorgan Chase & Co. upped their price objective on Topgolf Callaway Brands to $18.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of "Moderate Buy" and a consensus price target of $18.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.