Roth Capital Equities Analysts Decrease Earnings Estimates for Topgolf Callaway Brands Corp. (NYSE:MODG)

Topgolf Callaway Brands Corp. (NYSE:MODG) – Investment analysts at Roth Capital dropped their Q3 2024 EPS estimates for Topgolf Callaway Brands in a research note issued to investors on Thursday, August 8th. Roth Capital analyst G. Kelly now expects that the company will post earnings of ($0.16) per share for the quarter, down from their previous estimate of $0.18. The consensus estimate for Topgolf Callaway Brands’ current full-year earnings is $0.34 per share. Roth Capital also issued estimates for Topgolf Callaway Brands’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.07) EPS.

A number of other research analysts have also issued reports on MODG. Roth Mkm reiterated a “buy” rating and set a $17.00 price target (down previously from $20.00) on shares of Topgolf Callaway Brands in a research report on Thursday, August 8th. B. Riley boosted their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Truist Financial lowered their price objective on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Raymond James dropped their price objective on Topgolf Callaway Brands from $17.50 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $13.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.77.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $11.73 on Monday. Topgolf Callaway Brands has a 12-month low of $9.84 and a 12-month high of $17.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.55 and a beta of 1.77. The business has a 50 day simple moving average of $14.87 and a 200 day simple moving average of $14.99.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $0.39 EPS. Topgolf Callaway Brands’s revenue was down 1.9% on a year-over-year basis.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in shares of Topgolf Callaway Brands by 61.8% during the 2nd quarter. Sei Investments Co. now owns 391,343 shares of the company’s stock worth $5,987,000 after buying an additional 149,545 shares during the period. Granite Investment Partners LLC acquired a new position in Topgolf Callaway Brands during the 2nd quarter worth $13,757,000. XTX Topco Ltd bought a new stake in Topgolf Callaway Brands during the second quarter valued at about $218,000. Hsbc Holdings PLC grew its position in shares of Topgolf Callaway Brands by 16.3% in the second quarter. Hsbc Holdings PLC now owns 37,151 shares of the company’s stock valued at $567,000 after purchasing an additional 5,209 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after purchasing an additional 1,549,222 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.