Topgolf Callaway Brands (NYSE:CALY) Hits New 12-Month High – Here’s Why

Topgolf Callaway Brands Corp. (NYSE:CALY) reached a new 52-week high during trading on Thursday . The company traded as high as $18.51 and last traded at $18.1530, with a volume of 662052 shares traded. The stock had previously closed at $17.20.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CALY shares. Zacks Research cut Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. boosted their price objective on Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. The Goldman Sachs Group started coverage on Topgolf Callaway Brands in a report on Thursday, June 11th. They issued a “neutral” rating and a $17.00 price target for the company. Finally, Truist Financial upped their price target on shares of Topgolf Callaway Brands to $19.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.25.

Topgolf Callaway Brands Trading Up 5.8%

The stock has a market capitalization of $3.27 billion, a P/E ratio of 129.97 and a beta of 0.96. 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 company’s 50 day simple moving average is $15.36.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) 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 business’s revenue for the quarter was down 37.1% compared to the same quarter last year. Equities analysts predict that Topgolf Callaway Brands Corp. will post 0.75 earnings per share 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.