Topgolf Callaway Brands (MODG) Stock

Topgolf Callaway Brands (NYSE:MODG) has been upgraded to a ‘Buy' rating from ‘Hold' by analysts at Jefferies who see the golf equipment and entertainment brand's shares as undervalued. Analysts also raised their price target on the company to $13 from $11.

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' 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.

The two-level venue in Ridgeland sits northeast of the Renaissance at Colony Park DALLAS , Dec. 5, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today that at long last, it will open its first venue in Mississippi, Topgolf Ridgeland, on Dec. 20. This is Topgolf's 108th global outdoor venue.

The three-level venue features 108 hitting bays and sits along Bayshore Freeway (Hwy 101) and Airport Drive DALLAS , Dec. 2, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today it will open in Burlingame, California, on Dec. 13, making it Topgolf's 107th global outdoor venue. Topgolf Basics Never been to a Topgolf venue?

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.

The venue will be located at 560 Bielenberg Drive in Woodbury, MN DALLAS , Nov. 21, 2024 /PRNewswire/ -- Topgolf  announced today it recently broke ground on a three-level venue in Woodbury, Minnesota, set to open in late 2025. This is the second venue in Minnesota in addition to an existing venue in Minneapolis – Brooklyn Center.

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.

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.