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

Topgolf Callaway Brands (NYSE:MODG) updated its FY 2024 earnings guidance on Tuesday. 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.

Topgolf Callaway Brands Trading Down 9.2 %

Shares of MODG stock opened at $8.57 on Thursday. Topgolf Callaway Brands has a fifty-two week low of $8.54 and a fifty-two week high of $16.89. The firm’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $12.93. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -107.11, a price-to-earnings-growth ratio of 6.06 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.20. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $981.29 million. Topgolf Callaway Brands had a positive return on equity of 1.21% and a negative net margin of 0.29%. On average, analysts anticipate that Topgolf Callaway Brands will post 0.18 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MODG shares. 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. Bank of America dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Roth Mkm reiterated a “buy” rating and set a $17.00 target price on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.17.

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.