Topgolf Callaway Brands (NYSE:MODG) Releases FY24 Earnings Guidance

Topgolf Callaway Brands (NYSE:MODG) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.31-0.39 for the period, compared to the consensus earnings per share estimate of $0.29. The company issued revenue guidance of $4.435-4.475 billion, compared to the consensus revenue estimate of $4.52 billion.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MODG shares. Tigress Financial reissued a buy rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Truist Financial lifted their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a buy rating in a report on Monday, April 29th. B. Riley upped their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, KeyCorp cut their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands presently has a consensus rating of Moderate Buy and an average target price of $19.91.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG traded down $0.26 during trading hours on Wednesday, reaching $16.36. The stock had a trading volume of 2,370,889 shares, compared to its average volume of 2,439,914. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 1.67 and a beta of 1.84. The firm has a 50-day moving average of $15.43 and a 200-day moving average of $14.05. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $21.86.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business had revenue of $897.10 million during the quarter, compared to the consensus estimate of $867.25 million. During the same quarter last year, the firm posted ($0.27) EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Topgolf Callaway Brands will post 0.29 earnings per share for the current year.

Insider Activity at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by corporate 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.