Topgolf Callaway Brands Corp (NYSE:MODG) has a beta value of 1.86 and has seen 5.16 million shares traded in the recent trading session. The company, currently valued at $2.93B, closed the recent trade at $15.98 per share which meant it gained $1.59 on the day or 11.08% during that session. The MODG stock price is -43.99% off its 52-week high price of $23.01 and 38.42% above the 52-week low of $9.84. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.35 million shares traded. The 3-month trading volume is 2.63 million shares.
Topgolf Callaway Brands Corp (NYSE:MODG) trade information
Sporting 11.08% in the green today, the stock has traded in the green over the last five days, when the MODG stock price touched $15.98 or saw a rise of 0.68%. Year-to-date, Topgolf Callaway Brands Corp shares have moved 11.47%, while the 5-day performance has seen it change 15.00%. Over the past 30 days, the shares of Topgolf Callaway Brands Corp (NYSE:MODG) have changed 9.56%. Short interest in the company has seen 15.99 million shares shorted with days to cover at 5.44.
Topgolf Callaway Brands Corp (MODG) estimates and forecasts
Figures show that Topgolf Callaway Brands Corp shares have underperformed across the wider relevant industry. The company’s shares have gained 1.62% over the past 6 months, with this year growth rate of -40.82%, compared to -6.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -100.00% and -15.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be 5.50%.
11 analysts offering their estimates for the company have set an average revenue estimate of $1.15 billion for the current quarter. 11 have an estimated revenue figure of $1.25 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $1.14 billion and $1.19 billion respectively for this quarter and the next, and analysts expect sales will grow by 1.60% for the current quarter and 5.30% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -15.21% over the past 5 years. Earnings growth for 2024 is a modest -41.33% while over the next 5 years, the company’s earnings are expected to increase by 14.00%.
MODG Dividends
Topgolf Callaway Brands Corp is expected to release its next earnings report between May 07 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Topgolf Callaway Brands Corp (NYSE:MODG)’s Major holders
Insiders own 11.56% of the company shares, while shares held by institutions stand at 86.59% with a share float percentage of 97.91%. Investors are also buoyed by the number of investors in a company, with Topgolf Callaway Brands Corp having a total of 405 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 23.39 million shares worth more than $373.47 million. As of Dec 30, 2023, Blackrock Inc. held 12.74% of shares outstanding.
The other major institutional holder is Providence Equity Partners L.l.c., with the holding of over 21.18 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $338.17 million and represent 11.53% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. As of Jan 30, 2024, the former fund manager holds about 5.26% shares in the company for having 9.66 million shares of worth $154.28 million while later fund manager owns 4.36 million shares of worth $69.64 million as of Dec 30, 2023, which makes it owner of about 2.38% of company’s outstanding stock.
