Topgolf Callaway Brands (NYSE:MODG) Issues Quarterly Earnings Results

Topgolf Callaway Brands (NYSE:MODG) issued its earnings results on Wednesday. The company reported $0.42 earnings per share for the quarter, beating 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 the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue was down 1.9% compared to the same quarter last year.

Topgolf Callaway Brands Stock Down 2.0 %

MODG traded down $0.25 during trading on Thursday, hitting $11.97. 8,967,528 shares of the company’s stock were exchanged, compared to its average volume of 2,279,615. The stock has a market cap of $2.20 billion, a P/E ratio of 32.35, a PEG ratio of 2.55 and a beta of 1.77. The business’s 50 day moving average is $15.12 and its two-hundred day moving average is $15.03. Topgolf Callaway Brands has a fifty-two week low of $9.84 and a fifty-two week high of $17.74. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39.

Insider Buying and Selling

In other 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 value of $115,275.00. Following the transaction, the director now owns 760,459 shares in the company, valued at $11,688,254.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 10,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the transaction, the director now owns 767,959 shares of the company’s stock, valued at approximately $11,665,297.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total value of $115,275.00. Following the completion of the transaction, the director now directly owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MODG. TD Cowen raised their target price on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Roth Mkm reaffirmed a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Topgolf Callaway Brands in a research note on Thursday. Bank of America downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $13.00 in a research report on Thursday. Morgan Stanley dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Tigress Financial reissued a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus price target of $17.69.

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.