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

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

Topgolf Callaway Brands Price Performance

MODG traded down $1.12 during trading on Thursday, reaching $15.23. 2,730,540 shares of the company were exchanged, compared to its average volume of 2,441,801. The company’s 50-day moving average is $15.47 and its two-hundred day moving average is $14.07. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $20.75. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 1.67 and a beta of 1.84. 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 Buying and Selling

In other news, Director Erik J. Anderson sold 5,000 shares of the firm’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 completion of the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction 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 completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now directly owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. 2.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MODG has been the topic of a number of recent analyst reports. KeyCorp decreased their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. B. Riley boosted their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Truist Financial lifted their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.