Topgolf Callaway Brands (NYSE:MODG) Board of Directors Declares Share Repurchase Plan

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) announced that its board has authorized a share buyback program on Monday, January 5th, RTT News reports. The company plans to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.Topgolf Callaway Brands Stock Performance3 Summer Stocks With Insider Buying and Analyst SupportShares of MODG traded up $1.16 during mid-day trading on Monday, reaching $12.88. The company had a trading volume of 3,379,078 shares, compared to its average volume of 2,135,020. The stock has a 50 day moving average of $11.14 and a two-hundred day moving average of $9.91. Topgolf Callaway Brands has a 52-week low of $5.42 and a 52-week high of $12.99. The stock has a market capitalization of $2.37 billion, a P/E ratio of -1.57 and a beta of 0.92. The company has a quick ratio of 1.30, a current ratio of 1.87 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The firm had revenue of $465.30 million during the quarter, compared to analyst estimates of $903.96 million. Topgolf Callaway Brands had a negative return on equity of 0.13% and a negative net margin of 37.06%.Topgolf Callaway Brands's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. On average, analysts expect that Topgolf Callaway Brands will post 0.16 earnings per share for the current year. Analyst Ratings Changes3 Stocks Under $10 That Could Turn Risk Into RewardSeveral equities analysts have commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Topgolf Callaway Brands in a research report on Monday, December 29th. Roth Capital reiterated a "buy" rating and issued a $14.00 target price on shares of Topgolf Callaway Brands in a report on Wednesday, November 19th. Truist Financial raised their price target on Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, November 4th. UBS Group restated a "neutral" rating and set a $11.00 target price on shares of Topgolf Callaway Brands in a report on Monday, November 24th. Finally, B. Riley reiterated a "neutral" rating and issued a $11.00 target price (up from $9.50) on shares of Topgolf Callaway Brands in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $11.67.Read Our Latest Stock Analysis on MODGTopgolf Callaway Brands Company Profile Get Free Report)3 Beaten Up Experiential Stocks to Cash in on a Good TimeTopgolf Callaway Brands plc NYSE: MODG is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway's heritage in golf equipment design and manufacturing with Topgolf's innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities. Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.Recommended StoriesFive stocks we like better than Topgolf Callaway BrandsElon Taking SpaceX Public! $100 Pre-IPO Opportunity!Do not delete, read immediatelyThis stock gets a 94 out of 100The $100 Trillion AI Story No One Is Telling You3 Overlooked Deductions to Help Potentially Minimize Capital Gains TaxThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Topgolf Callaway Brands Right Now?Before you consider Topgolf Callaway Brands, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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