Topgolf Callaway Brands (NYSE:CALY) Sets New 1-Year High – Here’s Why

Topgolf Callaway Brands Corp. (NYSE:CALY) shares 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. The stock had previously closed at $17.20.

Analysts Set New Price Targets

Several analysts have weighed in on CALY shares. JPMorgan Chase & Co. upped their target price on Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Truist Financial boosted their price objective on shares of Topgolf Callaway Brands to $19.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group started coverage on shares of Topgolf Callaway Brands in a report on Thursday, June 11th. They set a “neutral” rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.25.

Topgolf Callaway Brands Price Performance

The stock has a market cap of $3.27 billion, a PE ratio of 129.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.44 and a current ratio of 2.28. The stock has a 50-day moving average of $15.52.

Topgolf Callaway Brands (NYSE:CALY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share 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 firm’s revenue for the quarter was down 37.1% on a year-over-year basis. Analysts predict that Topgolf Callaway Brands Corp. 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.