Topgolf Callaway Brands (NYSE:CALY) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Topgolf Callaway Brands (NYSE:CALY) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Weiss Ratings raised Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Topgolf Callaway Brands from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group lifted their target price on Topgolf Callaway Brands from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and an average target price of $16.00.

Topgolf Callaway Brands Price Performance

CALY stock opened at $15.23 on Thursday. The company’s fifty day simple moving average is $14.35. Topgolf Callaway Brands has a fifty-two week low of $5.86 and a fifty-two week high of $18.00. The firm has a market cap of $2.74 billion, a PE ratio of 108.79 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.28 and a quick ratio of 1.22.

Topgolf Callaway Brands (NYSE:CALY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was down 37.1% compared to the same quarter last year. On average, equities analysts expect that Topgolf Callaway Brands will post 0.66 earnings per share for the current fiscal 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.