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

Topgolf Callaway Brands (NYSE:MODG) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.080-0.130 for the period, compared to the consensus 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 Stock Performance

NYSE:MODG traded down $0.22 during mid-day trading on Tuesday, reaching $9.44. 3,138,804 shares of the stock were exchanged, compared to its average volume of 2,493,262. The stock has a market capitalization of $1.74 billion, a P/E ratio of 96.60, a P/E/G ratio of 6.18 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 has a 1 year low of $9.05 and a 1 year high of $16.89. The company has a 50 day simple moving average of $10.21 and a 200-day simple moving average of $12.98.

Analyst Ratings Changes

MODG has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price 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, August 9th. 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 note on Thursday, August 29th. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Morgan Stanley lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. Finally, Roth Mkm reissued a “buy” rating and set a $17.00 price target on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.73.

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.