<p>高尔夫装备和休闲公司 Topgolf Callaway Brands (MODG) 报告了最近一个季度的业绩表现不佳。一方面，公司报告了季度营收略微下降，但另一方面，它超出了每股收益预期。此外，与百事可乐 (PEP) 的积极合作以及一位内部投资者投资 200 万美元表明了股票的积极前景。然而，随着时间的推移，收益下降，不断增加的债务引发了对公司未来增长和可持续性的担忧，Topgolf 的客流量也在下降。</p>
<p>这导致了业绩指引下调和宣布进行战略审查，以探索实现盈利销售增长和潜在非有机替代方案的策略。投资者可能希望在管理层能够明确未来路径并展示朝着正确方向迈出实质性步伐之前保持观望。</p>
<p><img src="https://imageproxy.pbkrs.com/https://blog.tipranks.com/wp-content/uploads/2024/08/MODG-Stock-Chart-9-1-24-1024x588.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://blog.tipranks.com/wp-content/uploads/2024/08/MODG-Stock-Chart-9-1-24-1024x588.png"/></p>
<h2><strong>Topgolf Callaway 寻找答案</strong></h2>
<p>Topgolf Callaway Brands 在多个领域运营，提供从高尔夫装备到生活服饰和数字游戏等各种产品。该公司拥有包括高尔夫装备品牌 Callaway 和 Odyssey、生活方式品牌 TravisMathew、户外服装品牌 Jack Wolfskin 以及采用高科技击球区和餐饮区的 Topgolf 场馆在内的各种品牌。</p>
<p>然而，公司最近对其股票表现和 Topgolf 同店销售表现感到失望。公司已对 Topgolf 进行了全面战略审查，探讨有机和非有机策略，以实现盈利销售增长。这包括考虑潜在的 Topgolf 分拆。该分析由外部顾问协助，旨在增强长期股东价值，并预计将迅速完成。</p>
<h2><strong>Topgolf Callaway 最近的财务业绩和展望</strong></h2>
<p>公司最近报告了 2024 年第二季度的财务业绩。11.6 亿美元的营收低于分析师对 11.9 亿美元的预期，同比下降 1.9%，原因是计划中高尔夫装备推出时间的调整以及活跃生活方式部门销售额下降。净收入按照美国通用会计准则下降了 5530 万美元，但按照非美国通用会计准则增加到 750 万美元。公司报告的每股收益为 0.42 美元，超过了 0.28 美元的共识预测。</p>
<p>公司报告称，季末现金和短期投资为 3.118 亿美元。</p>
<p>在第二季度业绩公布后，MODG 管理层下调了其指引，预计 2024 年第三季度的合并净营收为 9.7 亿至 9.9 亿美元，合并调整后的息税折旧及摊销前利润 (EBITDA) 为 9500 万至 1.05 亿美元，显示出与 2023 年第三季度报告数据相比的下降。2024 年全年展望预计合并净营收范围为 42 亿至 42.6 亿美元，较之前的估计有所下降。</p>
<p>此外，Topgolf 的营收预计约为 17.9 亿美元，较之前的估计有所下降。Topgolf 同店销售增长预计从两位数下降到高个位数增长。预计 Topgolf 的调整后 EBITDA 约为 3.1 亿美元。预计非美国通用会计准则稀释每股收益将在 0.11 至 0.21 美元之间，大幅低于去年的数据。</p>
<h2><strong>MODG 股票的目标价是多少？</strong></h2>
<p>该股票在过去三年中一直呈多年下降趋势，下跌了 63%。它的交易价格位于 52 周价格范围的低端，为 9.84 美元至 17.64 美元，同时通过低于其 20 日（11.92）和 50 日（13.31）移动平均线交易显示出负面价格动能。以 0.5 倍的市销率交易，低于休闲行业平均 1.85 倍。</p>
<p>跟踪该公司的分析师对 MODG 股票持谨慎乐观态度。例如，杰富瑞分析师兰达尔·科尼克最近将股票评级从买入调降至持有，目标价从 40 美元降至 12 美元，指出公司的盈利质量已经下降。同时，债务累积引发了担忧。</p>
<p>根据 11 位分析师最近的建议和目标价，Topgolf Callaway Brands 被评为持有。MODG 股票的平均目标价为 14.44 美元，相较当前水平有 43.54% 的潜在上涨空间。</p>
<p></p>
<p><strong>查看更多 MODG 分析师评级</strong></p>
<h2><strong>关于 Topgolf Callaway 的最终想法</strong></h2>
<p>尽管 Topgolf Callaway 最近的每股收益超出预期，但营收下降、业绩指引下调以及 Topgolf 客流量减少引发了对未来增长和可持续性的担忧。这些挑战促使进行战略审查，以确定实现盈利销售增长和潜在替代方案的途径。然而，尽管面临这些障碍，公司多样化的产品供应和在零售渠道中的全球存在继续突显其复苏潜力。</p>
<p>股价相对折价交易，这可能是逆向价值投资者的吸引机会。然而，投资者可能希望等到管理层展示更具体的增长措施之前持币观望。</p>
<p>披露</p>

MODG

<p>Topgolf Callaway Brands（MODG）发布了 2024 年第二季度业绩，收入为 16 亿美元，低于预期，并且净利润下降。增加的债务和下降的客流量引发了增长担忧，促使进行盈利销售增长的战略审查。分析师已将股票评级下调至持有，并设定了 14.44 美元的目标价，提供潜在上涨空间，尽管股价呈下降趋势。尽管超过了每股收益预期，但收入下降和前景不明使投资者保持谨慎，建议等待管理层展示更清晰的增长路径</p>

<p>The golf equipment and leisure company Topgolf Callaway Brands (MODG) reported mixed financial performance for the most recent quarter. On the one hand, the company reported a slight decrease in quarterly revenue, but on the other, it outperformed earnings per share expectations. Furthermore, an active partnership with PepsiCo (PEP) and an insider’s investment of $2 million suggest a positive outlook for the stock. However, earnings have declined over time, mounting debt has raised concerns about the company’s future growth and sustainability, and Topgolf’s traffic has deteriorated.</p>
<div class="lb-trans"><p>高尔夫装备和休闲公司 Topgolf Callaway Brands (MODG) 报告了最近一个季度的业绩表现不佳。一方面，公司报告了季度营收略微下降，但另一方面，它超出了每股收益预期。此外，与百事可乐 (PEP) 的积极合作以及一位内部投资者投资 200 万美元表明了股票的积极前景。然而，随着时间的推移，收益下降，不断增加的债务引发了对公司未来增长和可持续性的担忧，Topgolf 的客流量也在下降。</p>
</div><p>This has led to a downward shift in guidance and the announcement of a strategic review to explore strategies for profitable sales growth and potential inorganic alternatives. Investors may want to stay on the sidelines until management can articulate a path forward and demonstrate meaningful steps in the right direction.</p>
<div class="lb-trans"><p>这导致了业绩指引下调和宣布进行战略审查，以探索实现盈利销售增长和潜在非有机替代方案的策略。投资者可能希望在管理层能够明确未来路径并展示朝着正确方向迈出实质性步伐之前保持观望。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://blog.tipranks.com/wp-content/uploads/2024/08/MODG-Stock-Chart-9-1-24-1024x588.png" alt="" original-src="https://blog.tipranks.com/wp-content/uploads/2024/08/MODG-Stock-Chart-9-1-24-1024x588.png"/></p>
<h2><strong>Topgolf Callaway Is Looking For Answers</strong></h2>
<div class="lb-trans"><h2><strong>Topgolf Callaway 寻找答案</strong></h2>
</div><p>Topgolf Callaway Brands operates in diverse segments, offering everything from golf equipment to lifestyle apparel and digital games. The company boasts various brands, including Callaway and Odyssey for golf equipment, TravisMathew for lifestyle, Jack Wolfskin for outdoor wear, and Topgolf venues that employ high-tech hitting bays and dining areas.</p>
<div class="lb-trans"><p>Topgolf Callaway Brands 在多个领域运营，提供从高尔夫装备到生活服饰和数字游戏等各种产品。该公司拥有包括高尔夫装备品牌 Callaway 和 Odyssey、生活方式品牌 TravisMathew、户外服装品牌 Jack Wolfskin 以及采用高科技击球区和餐饮区的 Topgolf 场馆在内的各种品牌。</p>
</div><p>However, the company recently revealed disappointment in its stock performance and Topgolf’s same-venue sales performance. The company has launched a comprehensive strategic review of Topgolf, exploring organic and inorganic strategies for returning to profitable sales growth. This includes considering the potential spin-off of Topgolf. The analysis, assisted by external advisors, aims to enhance long-term shareholder value and is expected to be completed swiftly.</p>
<div class="lb-trans"><p>然而，公司最近对其股票表现和 Topgolf 同店销售表现感到失望。公司已对 Topgolf 进行了全面战略审查，探讨有机和非有机策略，以实现盈利销售增长。这包括考虑潜在的 Topgolf 分拆。该分析由外部顾问协助，旨在增强长期股东价值，并预计将迅速完成。</p>
</div><h2><strong>Topgolf Callaway’s Recent Financial Results &amp; Outlook</strong></h2>
<div class="lb-trans"><h2><strong>Topgolf Callaway 最近的财务业绩和展望</strong></h2>
</div><p>The company recently reported financial results for Q2 2024. Revenue of $1.16 billion fell short of analysts’ expectations of $1.19 while declining 1.9% year-over-year due to a planned shift in golf equipment launch timing and lower sales in the active lifestyle segment. Net income also decreased by $55.3 million on a GAAP basis but increased to $7.5 million on a non-GAAP basis. The company reported earnings per share (EPS) of $0.42, surpassing the consensus projections of $0.28.</p>
<div class="lb-trans"><p>公司最近报告了 2024 年第二季度的财务业绩。11.6 亿美元的营收低于分析师对 11.9 亿美元的预期，同比下降 1.9%，原因是计划中高尔夫装备推出时间的调整以及活跃生活方式部门销售额下降。净收入按照美国通用会计准则下降了 5530 万美元，但按照非美国通用会计准则增加到 750 万美元。公司报告的每股收益为 0.42 美元，超过了 0.28 美元的共识预测。</p>
</div><p>The company reported cash and short-term investments of $311.8 million at the quarter’s end.</p>
<div class="lb-trans"><p>公司报告称，季末现金和短期投资为 3.118 亿美元。</p>
</div><p>Following second-quarter results, MODG’s management revised its guidance downward, estimating a consolidated Q3 net revenue of $970 to $990 million and a consolidated Adjusted EBITDA of $95 – $105 million, showing a decline from the Q3 2023 reported figures. The full-year outlook for 2024 projects consolidated net revenue in the range of $4,200 – $4,260 million, a decrease from the previous estimate.</p>
<div class="lb-trans"><p>在第二季度业绩公布后，MODG 管理层下调了其指引，预计 2024 年第三季度的合并净营收为 9.7 亿至 9.9 亿美元，合并调整后的息税折旧及摊销前利润 (EBITDA) 为 9500 万至 1.05 亿美元，显示出与 2023 年第三季度报告数据相比的下降。2024 年全年展望预计合并净营收范围为 42 亿至 42.6 亿美元，较之前的估计有所下降。</p>
</div><p>Also, Topgolf’s revenue is projected to be approximately $1,790 million, reflecting a decrease compared to the previous estimate. The Topgolf same venue sales growth is predicted to decrease from low double-digits to high single-digits. Adjusted EBITDA for Topgolf is projected to be around $310 million. Non-GAAP diluted earnings per share are expected to be between $0.11 – $0.21, significantly lower than the previous year’s figure.</p>
<div class="lb-trans"><p>此外，Topgolf 的营收预计约为 17.9 亿美元，较之前的估计有所下降。Topgolf 同店销售增长预计从两位数下降到高个位数增长。预计 Topgolf 的调整后 EBITDA 约为 3.1 亿美元。预计非美国通用会计准则稀释每股收益将在 0.11 至 0.21 美元之间，大幅低于去年的数据。</p>
</div><h2><strong>What Is the Price Target for MODG Stock?</strong></h2>
<div class="lb-trans"><h2><strong>MODG 股票的目标价是多少？</strong></h2>
</div><p>The stock has been on a multi-year downward trend, shedding 63% over the past three years. It trades at the low end of its 52-week price range of $9.84 – $17.64 while demonstrating negative price momentum by trading below its 20-day (11.92) and 50-day (13.31) moving averages. With a P/S ratio of 0.5x, it trades at a discount to the Leisure industry’s average of 1.85x.</p>
<div class="lb-trans"><p>该股票在过去三年中一直呈多年下降趋势，下跌了 63%。它的交易价格位于 52 周价格范围的低端，为 9.84 美元至 17.64 美元，同时通过低于其 20 日（11.92）和 50 日（13.31）移动平均线交易显示出负面价格动能。以 0.5 倍的市销率交易，低于休闲行业平均 1.85 倍。</p>
</div><p>Analysts following the company have been cautiously optimistic about MODG stock. For instance, Jefferies analyst Randal Konik recently downgraded the shares to Hold from Buy with a price target change from $40 to $12, noting the company’s quality of earnings has declined. At the same time, the accumulation of debt raises concerns.</p>
<div class="lb-trans"><p>跟踪该公司的分析师对 MODG 股票持谨慎乐观态度。例如，杰富瑞分析师兰达尔·科尼克最近将股票评级从买入调降至持有，目标价从 40 美元降至 12 美元，指出公司的盈利质量已经下降。同时，债务累积引发了担忧。</p>
</div><p>Topgolf Callaway Brands is rated a Hold based on the recent recommendations and price targets issued by 11 analysts. The average price target for MODG stock is $14.44, representing a potential 43.54% upside from current levels.</p>
<div class="lb-trans"><p>根据 11 位分析师最近的建议和目标价，Topgolf Callaway Brands 被评为持有。MODG 股票的平均目标价为 14.44 美元，相较当前水平有 43.54% 的潜在上涨空间。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://blog.tipranks.com/wp-content/uploads/2024/09/image-1.png" alt="" original-src="https://blog.tipranks.com/wp-content/uploads/2024/09/image-1.png"/></p>
<p><strong>Seem more MODG analyst ratings</strong></p>
<div class="lb-trans"><p><strong>查看更多 MODG 分析师评级</strong></p>
</div><h2><strong>Final Thoughts on Topgolf Callaway</strong></h2>
<div class="lb-trans"><h2><strong>关于 Topgolf Callaway 的最终想法</strong></h2>
</div><p>While Topgolf Callaway’s recent earnings per share surpassed expectations, declining revenues, a downward shift in guidance, and decreasing Topgolf traffic raise concerns about future growth and sustainability. These challenges have prompted a strategic review to identify pathways for profitable sales growth and potential alternatives. Yet, despite these hurdles, the company’s diverse product offering and global presence in retail channels continue to underscore its potential for a comeback.</p>
<div class="lb-trans"><p>尽管 Topgolf Callaway 最近的每股收益超出预期，但营收下降、业绩指引下调以及 Topgolf 客流量减少引发了对未来增长和可持续性的担忧。这些挑战促使进行战略审查，以确定实现盈利销售增长和潜在替代方案的途径。然而，尽管面临这些障碍，公司多样化的产品供应和在零售渠道中的全球存在继续突显其复苏潜力。</p>
</div><p>With shares trading at a relative discount, this may be an appealing opportunity for the contrarian value investor. However, investors might want to hold off until management demonstrates more concrete measures towards growth.</p>
<div class="lb-trans"><p>股价相对折价交易，这可能是逆向价值投资者的吸引机会。然而，投资者可能希望等到管理层展示更具体的增长措施之前持币观望。</p>
</div><p>Disclosure</p>
<div class="lb-trans"><p>披露</p>
</div>

MODG 股票收益下降和债务上升带来了未来的不确定性