Topgolf Callaway Brands (NYSE:CALY) Posts Earnings Results

Topgolf Callaway Brands (NYSE:CALY) issued its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company had revenue of $612.20 million during the quarter.

Topgolf Callaway Brands Stock Up 2.3%

Shares of NYSE CALY traded up $0.45 during mid-day trading on Tuesday, hitting $19.54. 2,976,417 shares of the company traded hands, compared to its average volume of 2,753,683. Topgolf Callaway Brands has a 1 year low of $8.00 and a 1 year high of $20.28. The firm has a market cap of $3.51 billion, a PE ratio of 139.55 and a beta of 0.92. The company has a quick ratio of 1.44, a current ratio of 2.28 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $17.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Zacks Research upgraded Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. 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. Finally, The Goldman Sachs Group started coverage on Topgolf Callaway Brands in a research note on Thursday, June 11th. They set a “neutral” rating and a $17.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.25.

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.