<p>高爾夫裝備和休閒公司 Topgolf Callaway Brands (MODG) 報告了最近一個季度的業績表現不佳。一方面，公司報告了季度營收略微下降，但另一方面，它超出了每股收益預期。此外，與百事可樂 (PEP) 的積極合作以及一位內部投資者投資 200 萬美元表明了股票的積極前景。然而，隨着時間的推移，收益下降，不斷增加的債務引發了對公司未來增長和可持續性的擔憂，Topgolf 的客流量也在下降。</p>
<p>這導致了業績指引下調和宣佈進行戰略審查，以探索實現盈利銷售增長和潛在非有機替代方案的策略。投資者可能希望在管理層能夠明確未來路徑並展示朝着正確方向邁出實質性步伐之前保持觀望。</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 尋找答案</strong></h2>
<p>Topgolf Callaway Brands 在多個領域運營，提供從高爾夫裝備到生活服飾和數字遊戲等各種產品。該公司擁有包括高爾夫裝備品牌 Callaway 和 Odyssey、生活方式品牌 TravisMathew、户外服裝品牌 Jack Wolfskin 以及採用高科技擊球區和餐飲區的 Topgolf 場館在內的各種品牌。</p>
<p>然而，公司最近對其股票表現和 Topgolf 同店銷售表現感到失望。公司已對 Topgolf 進行了全面戰略審查，探討有機和非有機策略，以實現盈利銷售增長。這包括考慮潛在的 Topgolf 分拆。該分析由外部顧問協助，旨在增強長期股東價值，並預計將迅速完成。</p>
<h2><strong>Topgolf Callaway 最近的財務業績和展望</strong></h2>
<p>公司最近報告了 2024 年第二季度的財務業績。11.6 億美元的營收低於分析師對 11.9 億美元的預期，同比下降 1.9%，原因是計劃中高爾夫裝備推出時間的調整以及活躍生活方式部門銷售額下降。淨收入按照美國通用會計準則下降了 5530 萬美元，但按照非美國通用會計準則增加到 750 萬美元。公司報告的每股收益為 0.42 美元，超過了 0.28 美元的共識預測。</p>
<p>公司報告稱，季末現金和短期投資為 3.118 億美元。</p>
<p>在第二季度業績公佈後，MODG 管理層下調了其指引，預計 2024 年第三季度的合併淨營收為 9.7 億至 9.9 億美元，合併調整後的息税折舊及攤銷前利潤 (EBITDA) 為 9500 萬至 1.05 億美元，顯示出與 2023 年第三季度報告數據相比的下降。2024 年全年展望預計合併淨營收範圍為 42 億至 42.6 億美元，較之前的估計有所下降。</p>
<p>此外，Topgolf 的營收預計約為 17.9 億美元，較之前的估計有所下降。Topgolf 同店銷售增長預計從兩位數下降到高個位數增長。預計 Topgolf 的調整後 EBITDA 約為 3.1 億美元。預計非美國通用會計準則稀釋每股收益將在 0.11 至 0.21 美元之間，大幅低於去年的數據。</p>
<h2><strong>MODG 股票的目標價是多少？</strong></h2>
<p>該股票在過去三年中一直呈多年下降趨勢，下跌了 63%。它的交易價格位於 52 周價格範圍的低端，為 9.84 美元至 17.64 美元，同時通過低於其 20 日（11.92）和 50 日（13.31）移動平均線交易顯示出負面價格動能。以 0.5 倍的市銷率交易，低於休閒行業平均 1.85 倍。</p>
<p>跟蹤該公司的分析師對 MODG 股票持謹慎樂觀態度。例如，傑富瑞分析師蘭達爾·科尼克最近將股票評級從買入調降至持有，目標價從 40 美元降至 12 美元，指出公司的盈利質量已經下降。同時，債務累積引發了擔憂。</p>
<p>根據 11 位分析師最近的建議和目標價，Topgolf Callaway Brands 被評為持有。MODG 股票的平均目標價為 14.44 美元，相較當前水平有 43.54% 的潛在上漲空間。</p>
<p><img src="https://imageproxy.pbkrs.com/https://blog.tipranks.com/wp-content/uploads/2024/09/image-1.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/2024/09/image-1.png"/></p>
<p><strong>查看更多 MODG 分析師評級</strong></p>
<h2><strong>關於 Topgolf Callaway 的最終想法</strong></h2>
<p>儘管 Topgolf Callaway 最近的每股收益超出預期，但營收下降、業績指引下調以及 Topgolf 客流量減少引發了對未來增長和可持續性的擔憂。這些挑戰促使進行戰略審查，以確定實現盈利銷售增長和潛在替代方案的途徑。然而，儘管面臨這些障礙，公司多樣化的產品供應和在零售渠道中的全球存在繼續突顯其復甦潛力。</p>
<p>股價相對摺價交易，這可能是逆向價值投資者的吸引機會。然而，投資者可能希望等到管理層展示更具體的增長措施之前持幣觀望。</p>
<p>披露</p>

MODG

<p>Topgolf Callaway Brands（MODG）發佈了 2024 年第二季度業績，收入為 16 億美元，低於預期，並且淨利潤下降。增加的債務和下降的客流量引發了增長擔憂，促使進行盈利銷售增長的戰略審查。分析師已將股票評級下調至持有，並設定了 14.44 美元的目標價，提供潛在上漲空間，儘管股價呈下降趨勢。儘管超過了每股收益預期，但收入下降和前景不明使投資者保持謹慎，建議等待管理層展示更清晰的增長路徑</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>高爾夫裝備和休閒公司 Topgolf Callaway Brands (MODG) 報告了最近一個季度的業績表現不佳。一方面，公司報告了季度營收略微下降，但另一方面，它超出了每股收益預期。此外，與百事可樂 (PEP) 的積極合作以及一位內部投資者投資 200 萬美元表明了股票的積極前景。然而，隨着時間的推移，收益下降，不斷增加的債務引發了對公司未來增長和可持續性的擔憂，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>這導致了業績指引下調和宣佈進行戰略審查，以探索實現盈利銷售增長和潛在非有機替代方案的策略。投資者可能希望在管理層能夠明確未來路徑並展示朝着正確方向邁出實質性步伐之前保持觀望。</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 尋找答案</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 在多個領域運營，提供從高爾夫裝備到生活服飾和數字遊戲等各種產品。該公司擁有包括高爾夫裝備品牌 Callaway 和 Odyssey、生活方式品牌 TravisMathew、户外服裝品牌 Jack Wolfskin 以及採用高科技擊球區和餐飲區的 Topgolf 場館在內的各種品牌。</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，公司最近對其股票表現和 Topgolf 同店銷售表現感到失望。公司已對 Topgolf 進行了全面戰略審查，探討有機和非有機策略，以實現盈利銷售增長。這包括考慮潛在的 Topgolf 分拆。該分析由外部顧問協助，旨在增強長期股東價值，並預計將迅速完成。</p>
</div><h2><strong>Topgolf Callaway’s Recent Financial Results &amp; Outlook</strong></h2>
<div class="lb-trans"><h2><strong>Topgolf Callaway 最近的財務業績和展望</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>公司最近報告了 2024 年第二季度的財務業績。11.6 億美元的營收低於分析師對 11.9 億美元的預期，同比下降 1.9%，原因是計劃中高爾夫裝備推出時間的調整以及活躍生活方式部門銷售額下降。淨收入按照美國通用會計準則下降了 5530 萬美元，但按照非美國通用會計準則增加到 750 萬美元。公司報告的每股收益為 0.42 美元，超過了 0.28 美元的共識預測。</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>公司報告稱，季末現金和短期投資為 3.118 億美元。</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>在第二季度業績公佈後，MODG 管理層下調了其指引，預計 2024 年第三季度的合併淨營收為 9.7 億至 9.9 億美元，合併調整後的息税折舊及攤銷前利潤 (EBITDA) 為 9500 萬至 1.05 億美元，顯示出與 2023 年第三季度報告數據相比的下降。2024 年全年展望預計合併淨營收範圍為 42 億至 42.6 億美元，較之前的估計有所下降。</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 的營收預計約為 17.9 億美元，較之前的估計有所下降。Topgolf 同店銷售增長預計從兩位數下降到高個位數增長。預計 Topgolf 的調整後 EBITDA 約為 3.1 億美元。預計非美國通用會計準則稀釋每股收益將在 0.11 至 0.21 美元之間，大幅低於去年的數據。</p>
</div><h2><strong>What Is the Price Target for MODG Stock?</strong></h2>
<div class="lb-trans"><h2><strong>MODG 股票的目標價是多少？</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>該股票在過去三年中一直呈多年下降趨勢，下跌了 63%。它的交易價格位於 52 周價格範圍的低端，為 9.84 美元至 17.64 美元，同時通過低於其 20 日（11.92）和 50 日（13.31）移動平均線交易顯示出負面價格動能。以 0.5 倍的市銷率交易，低於休閒行業平均 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>跟蹤該公司的分析師對 MODG 股票持謹慎樂觀態度。例如，傑富瑞分析師蘭達爾·科尼克最近將股票評級從買入調降至持有，目標價從 40 美元降至 12 美元，指出公司的盈利質量已經下降。同時，債務累積引發了擔憂。</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>根據 11 位分析師最近的建議和目標價，Topgolf Callaway Brands 被評為持有。MODG 股票的平均目標價為 14.44 美元，相較當前水平有 43.54% 的潛在上漲空間。</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 分析師評級</strong></p>
</div><h2><strong>Final Thoughts on Topgolf Callaway</strong></h2>
<div class="lb-trans"><h2><strong>關於 Topgolf Callaway 的最終想法</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>儘管 Topgolf Callaway 最近的每股收益超出預期，但營收下降、業績指引下調以及 Topgolf 客流量減少引發了對未來增長和可持續性的擔憂。這些挑戰促使進行戰略審查，以確定實現盈利銷售增長和潛在替代方案的途徑。然而，儘管面臨這些障礙，公司多樣化的產品供應和在零售渠道中的全球存在繼續突顯其復甦潛力。</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>股價相對摺價交易，這可能是逆向價值投資者的吸引機會。然而，投資者可能希望等到管理層展示更具體的增長措施之前持幣觀望。</p>
</div><p>Disclosure</p>
<div class="lb-trans"><p>披露</p>
</div>

MODG 股票收益下降和債務上升帶來了未來的不確定性