Topgolf Callaway Brands’ (CALY) “Buy” Rating Reiterated at B. Riley Financial

B. Riley Financial restated their buy rating on shares of Topgolf Callaway Brands (NYSE:CALY) in a report issued on Wednesday,Benzinga reports. B. Riley Financial currently has a $23.00 price target on the stock, up from their previous price target of $19.00.

A number of other equities research analysts have also weighed in on the stock. Truist Financial boosted their price objective on shares of Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a report on Monday, June 15th. UBS Group raised their price objective on Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upped their target price on Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Topgolf Callaway Brands Price Performance

Shares of NYSE:CALY opened at $17.62 on Wednesday. The stock has a market cap of $3.14 billion, a P/E ratio of 40.97 and a beta of 0.93. The firm has a fifty day moving average of $17.86. Topgolf Callaway Brands has a 12-month low of $8.00 and a 12-month high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $612.20 million for the quarter. Topgolf Callaway Brands had a return on equity of 5.86% and a net margin of 3.37%.The firm’s revenue was down 44.9% compared to the same quarter last year. Sell-side analysts forecast that Topgolf Callaway Brands will post 0.75 EPS 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.