Why Shares of Topgolf Callaway Brands Rallied Big Today
Shares of Topgolf Callaway Brands (MODG 11.51%) rallied as much as 18.3% on Thursday, before settling in to a 12.6% gain as of 11:35 a.m. EDT.
Topgolf Callaway Brands: A Bogey At These Prices Looks Improbable
Topgolf Callaway Brands' shares have plummeted 47% in 2024 and 79.3% from their peak, but the decline seems extreme given the company's fundamentals. Management plans to split Topgolf and Callaway Golf Company, aiming to unlock value despite recent financial struggles and increased debt. Topgolf's growth strategy involves expanding venues, while Callaway Golf Company will inherit the debt, potentially offering investors Topgolf at a low valuation.
Topgolf Callaway Brands: No Signs Of Recovery In Sight
I maintain a sell rating on Topgolf Callaway Brands due to poor revenue performance, weak consumer spending, and ineffective growth initiatives. MODG's 3Q24 earnings showed a 2.7% y/y revenue decline, with EBIT margin compressing by 400 bps and net income plummeting to $4.3 million. Topgolf's SVS declined for the fourth consecutive quarter, with both consumer and corporate segments showing significant drops.
Why Topgolf Callaway Stock Was Slumping This Week
Why Topgolf Callaway Stock Was Slumping This Week
Topgolf Callaway price target lowered to $12 from $14 at Goldman Sachs
Goldman Sachs lowered the firm's price target on Topgolf Callaway to $12 from $14 and keeps a Neutral rating on the shares. The company's Q3 revenue and adjusted EBITDA topped estimates, but the management reduced its guidance, reflecting a shift in timing of shipments between Q3 and Q4 along with a slower than expected consumer activity in Q3, the analyst tells investors in a research note. Same-venue-sales for Topgolf also decelerated sequentially in Q3 both on a 1 and 2 year stack, driven more by 3+ Bay versus 1-2 Bay, though both segments also decelerated sequentially, Goldman added.
Topgolf Callaway Q3 Earnings & Revenues Top Estimates, Fall Y/Y
MODG's Q3 results benefit from operating efficiencies and cost management at Topgolf venues, along with favorable shipment timing in the legacy business.
Topgolf Callaway Brands Corp (MODG) Q3 2024 Earnings Call Transcript
Topgolf Callaway Brands Corp (NYSE:MODG ) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET Company Participants Katina Metzidakis - Vice President of Investor Relations and Corporate Communications Chip Brewer - President and Chief Executive Officer Brian Lynch - Chief Financial Officer and Chief Legal Officer Conference Call Participants Matthew Boss - J.P. Morgan Michael Swartz - Truist Securities Joe Altobello - Raymond James Eric Wold - B.
Compared to Estimates, Topgolf Callaway (MODG) Q3 Earnings: A Look at Key Metrics
Although the revenue and EPS for Topgolf Callaway (MODG) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Topgolf Callaway Brands (MODG) Tops Q3 Earnings and Revenue Estimates
Topgolf Callaway Brands (MODG) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.18 per share. This compares to earnings of $0.20 per share a year ago.
MODG vs. SRAD: Which Stock Is the Better Value Option?
Investors looking for stocks in the Leisure and Recreation Products sector might want to consider either Topgolf Callaway Brands (MODG) or Sportradar Group AG (SRAD). But which of these two stocks presents investors with the better value opportunity right now?
Topgolf Callaway to Report Q3 Earnings: Things to Keep in Mind
MODG's third-quarter 2024 results are likely to reflect the impact of slowing consumer activity.
Is TOPGOLF CALLAWY (MODG) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
