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

Topgolf Callaway Brands (NYSE:MODG) announced its quarterly earnings results on Wednesday. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08, Briefing.com reports. The firm 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%. Topgolf Callaway Brands’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 earnings per share.

Topgolf Callaway Brands Price Performance

NYSE:MODG traded down $1.12 during trading hours on Thursday, hitting $15.23. 3,073,632 shares of the stock were exchanged, compared to its average volume of 2,445,903. Topgolf Callaway Brands has a 52-week low of $9.84 and a 52-week high of $20.75. The firm’s fifty day moving average price is $15.47 and its 200 day moving average price is $14.07. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.80 billion, a P/E ratio of 32.20, a P/E/G ratio of 1.67 and a beta of 1.84.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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. In related news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 2,242 shares in the company, valued at $33,159.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. 2.49% of the stock is owned by company 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.