Topgolf Callaway Brands (NYSE:MODG) Releases Earnings Results

Topgolf Callaway Brands (NYSE:MODG) released its quarterly earnings data on Wednesday. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08, Briefing.com reports. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded down $1.11 on Thursday, hitting $15.24. 2,916,337 shares of the company were exchanged, compared to its average volume of 2,443,380. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84. The company has a 50-day moving average price of $15.47 and a 200 day moving average price of $14.07. Topgolf Callaway Brands has a 1-year low of $9.84 and a 1-year high of $20.75. 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 other news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on 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 approximately $11,319,303.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at $33,159.18. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MODG shares. Tigress Financial restated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. B. Riley lifted their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Truist Financial lifted their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, KeyCorp lowered their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.91.

About Topgolf Callaway Brands

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.