Topgolf Callaway Brands (NYSE:MODG) Updates FY 2024 Earnings Guidance

Topgolf Callaway Brands (NYSE:MODG) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.080-0.130 for the period, compared to the consensus EPS estimate of 0.170. The company issued revenue guidance of $4.2 billion-$4.2 billion, compared to the consensus revenue estimate of $4.2 billion. Topgolf Callaway Brands also updated its Q4 2024 guidance to EPS.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Truist Financial dropped their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday. Finally, Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Price Performance

NYSE:MODG opened at $8.40 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. Topgolf Callaway Brands has a 1-year low of $8.29 and a 1-year high of $16.89. The stock’s 50-day moving average is $10.10 and its 200-day moving average is $12.87.

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.