The Goldman Sachs Group Reiterates “Neutral” Rating for Topgolf Callaway Brands (NYSE:CALY)

Topgolf Callaway Brands (NYSE:CALY)‘s stock had its “neutral” rating restated by The Goldman Sachs Group in a research note issued on Thursday,Benzinga reports. They currently have a $17.00 price objective on the stock. The Goldman Sachs Group’s price target points to a potential upside of 4.47% from the company’s previous close.

A number of other research firms also recently issued reports on CALY. JPMorgan Chase & Co. increased their price objective on Topgolf Callaway Brands from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Zacks Research cut Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Finally, UBS Group increased their price target on Topgolf Callaway Brands from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, March 27th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.33.

Topgolf Callaway Brands Stock Performance

NYSE:CALY opened at $16.27 on Thursday. 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 company has a market capitalization of $2.93 billion, a P/E ratio of 116.24 and a beta of 0.96. Topgolf Callaway Brands has a 52-week low of $7.64 and a 52-week high of $18.00. The stock’s 50-day moving average price is $15.05.

Topgolf Callaway Brands (NYSE:CALY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was down 37.1% on a year-over-year basis. On average, 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.