Reviewing The Case For Topgolf Callaway Brands Corp (MODG) Going Higher

Currently, there are 183.70M common shares owned by the public and among those 133.40M shares have been available to trade.

The company’s stock has a 5-day price change of -9.40% and -38.65% over the past three months. MODG shares are trading -34.80% year to date (YTD), with the 12-month market performance down to -43.30% lower. It has a 12-month low price of $9.84 and touched a high of $16.89 over the same period. MODG has an average intraday trading volume of 2.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -15.14%, -29.80%, and -34.57% respectively.

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Institutional ownership of Topgolf Callaway Brands Corp (NYSE: MODG) shares accounts for 73.81% of the company’s 183.70M shares outstanding.

It has a market capitalization of $1.72B and a beta (3y monthly) value of 1.72. The stock’s trailing 12-month PE ratio is 101.19, while the earnings-per-share (ttm) stands at $0.09. The company has a PEG of 7.23 and a Quick Ratio of 1.15 with the debt-to-equity ratio at 1.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.27% over the week and 4.79% over the month.

Earnings per share for the fiscal year are expected to decrease by -75.11%, and 12.77% over the next financial year. EPS should grow at an annualized rate of 14.00% over the next five years, compared to -15.21% over the past 5-year period.

Looking at the support for the MODG, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on August 29, 2024, with the firm’s price target at $40-$12. KeyBanc Capital Markets was of a view on August 08, 2024 that the stock is Sector Weight, while BofA Securities gave the stock Neutral rating on August 08, 2024, issuing a price target of $18- $13. Stephens on their part issued Equal-Weight rating on November 09, 2023.

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