Topgolf Callaway Brands (NYSE:MODG) Releases Earnings Results, Beats Expectations By $0.14 EPS

Topgolf Callaway Brands (NYSE:MODG) released its earnings results on Wednesday. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14, Briefing.com reports. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis.

Topgolf Callaway Brands Price Performance

MODG traded down $0.76 on Friday, hitting $11.21. 3,707,980 shares of the company’s stock traded hands, compared to its average volume of 2,288,942. The company’s 50 day simple moving average is $15.03 and its 200-day simple moving average is $15.01. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 2.55 and a beta of 1.77. Topgolf Callaway Brands has a one year low of $9.84 and a one year high of $17.64. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Wall Street Analyst Weigh In

Several research firms recently commented on MODG. B. Riley increased their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Truist Financial lowered their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Roth Mkm reissued a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of Topgolf Callaway Brands in a report on Thursday. Morgan Stanley lowered their target price on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, Raymond James lowered their target price on Topgolf Callaway Brands from $17.50 to $14.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.77.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the transaction, the director now owns 760,459 shares in the company, valued at approximately $11,688,254.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.49% of the stock is currently owned by company insiders.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.