Topgolf Callaway Brands (NYSE:MODG) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.15, Zacks reports. The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. Topgolf Callaway Brands updated its FY 2025 guidance to EPS and its Q2 2025 guidance to EPS.

Topgolf Callaway Brands Trading Up 5.9%

Topgolf Callaway Brands stock traded up $0.39 during mid-day trading on Friday, hitting $7.01. 3,439,536 shares of the company's stock were exchanged, compared to its average volume of 2,742,251. The firm has a market capitalization of $1.29 billion, a P/E ratio of -87.65 and a beta of 1.25. Topgolf Callaway Brands has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company's 50 day simple moving average is $6.52 and its 200-day simple moving average is $7.49.

Analysts Set New Price Targets

Several brokerages have issued reports on MODG. Roth Mkm reissued a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, B. Riley began coverage on shares of Topgolf Callaway Brands in a research note on Friday. They set a "neutral" rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.50.

Insider Buying and Selling

In other Topgolf Callaway Brands news, CEO Oliver G. Brewer III acquired 20,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $6.40 per share, with a total value of $128,000.00. Following the purchase, the chief executive officer now owns 1,009,297 shares of the company's stock, valued at $6,459,500.80. This represents a 2.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Russell L. Fleischer acquired 30,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the purchase, the director now directly owns 116,187 shares in the company, valued at $744,758.67. This trade represents a 34.81% increase in their position. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Topgolf Callaway Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Topgolf Callaway Brands by 113.1% in the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Topgolf Callaway Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,280 shares of the company's stock valued at $555,000 after purchasing an additional 3,564 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Topgolf Callaway Brands by 36.5% in the 1st quarter. Empowered Funds LLC now owns 443,748 shares of the company's stock valued at $2,924,000 after purchasing an additional 118,642 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.