Topgolf Callaway Brands (NYSE:MODG) Releases Earnings Results, Beats Expectations By $0.14 EPS

Topgolf Callaway Brands (NYSE:MODG) released its quarterly earnings data on Wednesday. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.14, Briefing.com reports. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. Topgolf Callaway Brands’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share.

Topgolf Callaway Brands Trading Down 6.3 %

Shares of Topgolf Callaway Brands stock traded down $0.76 on Friday, hitting $11.21. The stock had a trading volume of 3,707,980 shares, compared to its average volume of 2,288,942. The stock’s 50-day simple moving average is $15.03 and its two-hundred day simple moving average is $15.01. Topgolf Callaway Brands has a one year low of $9.84 and a one year high of $17.64. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.55 and a beta of 1.77. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented 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 report on Friday, April 12th. The Goldman Sachs Group cut their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial lowered their target price on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Roth Mkm restated a “buy” rating and issued a $17.00 price target (down from $20.00) on shares of Topgolf Callaway Brands in a research report on Thursday. Finally, Morgan Stanley cut 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 report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.77.

Insider Buying and Selling

In other news, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the transaction, the director now directly owns 760,459 shares in the company, valued at $11,688,254.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.49% of the stock is currently owned by insiders.

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.