Topgolf Callaway Brands (MODG) to Release Earnings on Wednesday

Topgolf Callaway Brands (NYSE:MODG) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.01 per share for the quarter.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $897.10 million during the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. Topgolf Callaway Brands’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) earnings per share. On average, analysts expect Topgolf Callaway Brands to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.17 on Thursday, hitting $16.03. 89,822 shares of the company traded hands, compared to its average volume of 2,464,153. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $22.79. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.94 billion, a P/E ratio of 34.48, a P/E/G ratio of 1.68 and a beta of 1.84. The firm’s 50-day simple moving average is $15.24 and its 200 day simple moving average is $13.95.

Analysts Set New Price Targets

Several brokerages have issued reports on MODG. KeyCorp dropped their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Truist Financial upped their target price on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Tigress Financial reissued a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, Raymond James upped their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Insider Activity at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now directly owns 2,242 shares of the company’s stock, valued at $33,159.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by insiders.

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.