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

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

CALY has been the topic of several other research reports. Truist Financial upped their price objective on Topgolf Callaway Brands to $19.00 and gave the company a “buy” rating in a research note on Monday, June 15th. B. Riley Financial reissued a “buy” rating and set a $23.00 price target (up from $19.00) on shares of Topgolf Callaway Brands in a research report on Wednesday. Weiss Ratings upgraded Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, KeyCorp boosted their target price on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and an average price target of $20.00.

Topgolf Callaway Brands Stock Performance

Shares of CALY stock opened at $17.62 on Thursday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 40.97 and a beta of 0.93. Topgolf Callaway Brands has a 1-year low of $8.00 and a 1-year high of $20.28. The business’s fifty day moving average is $17.86.

Topgolf Callaway Brands (NYSE:CALY) last issued its earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 net margin of 3.37% and a return on equity of 5.86%. The business’s revenue was down 44.9% on a year-over-year basis. Equities research analysts predict that Topgolf Callaway Brands will post 0.75 earnings per share for the current fiscal year.

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.