Topgolf Callaway Brands (NYSE:MODG) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Topgolf Callaway Brands (NYSE:MODG) released its earnings results on Wednesday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08, Briefing.com reports. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 EPS.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG traded down $0.23 during trading on Friday, reaching $15.02. 931,005 shares of the company’s stock traded hands, compared to its average volume of 2,469,444. The firm has a market cap of $2.76 billion, a PE ratio of 33.15, a P/E/G ratio of 1.67 and a beta of 1.84. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $20.75. The company has a 50-day simple moving average of $15.49 and a 200-day simple moving average of $14.08. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39.

Insider Transactions at Topgolf Callaway Brands

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 29th. KeyCorp dropped 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. B. Riley lifted their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Tigress Financial restated a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Moderate Buy” and a consensus price target of $19.91.

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.