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 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 Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group downgraded 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 report on Thursday, August 29th. The Goldman Sachs Group cut their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 9th. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Bank of America cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average price target of $15.73.

Topgolf Callaway Brands Trading Down 2.3 %

Shares of NYSE:MODG traded down $0.22 during mid-day trading on Tuesday, reaching $9.44. 3,138,804 shares of the company were exchanged, compared to its average volume of 2,493,262. 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. The firm 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 firm’s 50-day simple moving average is $10.21 and its 200 day simple moving average is $12.98.

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.