Key Points
- CEO Oliver Brewer III sold 67,474 shares of Topgolf Callaway Brands at an average price of $18.30, worth approximately $1.23 million. His remaining stake fell 25.11% to 201,276 shares.
- CALY shares were trading down 3.0% at $17.07, while the company reported quarterly earnings of $0.39 per share, beating estimates by $0.04. Revenue reached $612.2 million but declined 44.9% year over year.
- Analysts maintain a generally neutral outlook, with an average rating of “Hold” and an average price target of $20.00; three analysts rate the stock a Buy and five rate it a Hold.
Topgolf Callaway Brands Corp. (NYSE:CALY - Get Free Report) CEO Oliver Brewer III sold 1,400 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $18.00, for a total value of $25,200.00. Following the sale, the chief executive officer owned 200,983 shares of the company's stock, valued at approximately $3,617,694. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Topgolf Callaway Brands Price Performance
Shares of CALY opened at $17.07 on Tuesday. The stock's 50 day moving average price is $17.90. Topgolf Callaway Brands Corp. has a one year low of $8.00 and a one year high of $20.28. The stock has a market capitalization of $3.05 billion, a PE ratio of 39.70 and a beta of 0.93.
Topgolf Callaway Brands (NYSE:CALY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. Topgolf Callaway Brands had a net margin of 3.37% and a return on equity of 5.86%. The business had revenue of $612.20 million during the quarter. The company's revenue for the quarter was down 44.9% compared to the same quarter last year. Sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.75 EPS for the current year.
Analysts Set New Price Targets
CALY has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised 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. KeyCorp boosted their price target on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. B. Riley Financial reissued a "buy" rating and issued a $23.00 price objective (up from $19.00) on shares of Topgolf Callaway Brands in a report on Wednesday, August 5th. Truist Financial lifted their target price on shares of Topgolf Callaway Brands to $19.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Finally, UBS Group lifted their target price on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $20.00.
Check Out Our Latest Stock Report on Topgolf Callaway Brands
Topgolf Callaway Brands Company Profile
(
Get Free Report)
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.
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