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

Topgolf Callaway Brands (NYSE:MODG) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.080-0.130 for the period, compared to the consensus earnings per share 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 equities analysts recently commented on MODG shares. Morgan Stanley cut their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. The Goldman Sachs Group reduced their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Finally, Truist Financial lowered their target price on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.73.

Topgolf Callaway Brands Stock Down 2.3 %

NYSE MODG traded down $0.22 on Tuesday, reaching $9.44. The company had a trading volume of 3,138,804 shares, compared to its average volume of 2,493,262. The firm has a market capitalization of $1.74 billion, a PE ratio of 96.60, a P/E/G ratio of 6.18 and a beta of 1.75. The firm has a 50-day moving average of $10.21 and a 200-day moving average of $12.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands has a 1 year low of $9.05 and a 1 year high of $16.89.

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.