Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Consensus Rating of “Hold” from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $12.9444.

Several analysts have issued reports on MODG shares. Truist Financial lifted their price target on Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. UBS Group reiterated a “neutral” rating and set a $11.00 price objective on shares of Topgolf Callaway Brands in a report on Monday, November 24th. JPMorgan Chase & Co. lifted their target price on Topgolf Callaway Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. B. Riley restated a “neutral” rating and issued a $11.00 target price (up previously from $9.50) on shares of Topgolf Callaway Brands in a research note on Monday, November 10th. Finally, Zacks Research downgraded Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th.

Topgolf Callaway Brands Stock Performance

MODG stock opened at $14.59 on Monday. Topgolf Callaway Brands has a 1-year low of $5.42 and a 1-year high of $15.02. The company has a current ratio of 1.87, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.68 billion, a PE ratio of -1.78 and a beta of 0.92. The business’s 50-day moving average price is $12.35 and its two-hundred day moving average price is $10.47.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. Topgolf Callaway Brands had a negative return on equity of 0.13% and a negative net margin of 37.06%.The company had revenue of $465.30 million for the quarter, compared to analyst estimates of $903.96 million. During the same quarter last year, the firm posted $0.02 earnings per share. Topgolf Callaway Brands’s revenue was down 7.8% compared to the same quarter last year. As a group, research analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Topgolf Callaway Brands declared that its board has authorized a share repurchase plan on Monday, January 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 9.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Topgolf Callaway Brands by 113.1% during the first quarter. AQR Capital Management LLC now owns 48,224 shares of the company’s stock valued at $307,000 after purchasing an additional 25,599 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Topgolf Callaway Brands by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,280 shares of the company’s stock valued at $555,000 after buying an additional 3,564 shares in the last quarter. Empowered Funds LLC increased its holdings in Topgolf Callaway Brands by 36.5% during the first quarter. Empowered Funds LLC now owns 443,748 shares of the company’s stock worth $2,924,000 after buying an additional 118,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Topgolf Callaway Brands by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 460,109 shares of the company’s stock worth $3,032,000 after acquiring an additional 22,211 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in Topgolf Callaway Brands in the first quarter valued at $109,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.