Topgolf Callaway Brands (NYSE:MODG) Issues 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.

Analyst Ratings Changes

Several research analysts recently commented on the company. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Morgan Stanley dropped their price target on 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. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Truist Financial dropped their price target on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Bank of America dropped their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Hold” and a consensus target price of $15.73.

Topgolf Callaway Brands Stock Down 2.3 %

Shares of MODG stock traded down $0.22 during trading hours on Tuesday, reaching $9.44. 3,138,804 shares of the company’s stock were exchanged, compared to its average volume of 2,493,262. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 96.60, a P/E/G ratio of 6.18 and a beta of 1.75. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands has a fifty-two week low of $9.05 and a fifty-two week high of $16.89. The stock’s 50 day moving average is $10.21 and its 200-day moving average is $12.98.

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.