MasterCraft Boat (NASDAQ:MCFT) Issues FY 2024 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFTGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.530-1.780 for the period, compared to the consensus earnings per share estimate of 1.600. The company issued revenue guidance of $400.0 million-$412.0 million, compared to the consensus revenue estimate of $405.6 million. MasterCraft Boat also updated its Q3 2024 guidance to 0.230-0.230 EPS.

MasterCraft Boat Trading Up 4.0 %

MCFT opened at $23.72 on Friday. The business has a 50 day simple moving average of $21.57 and a two-hundred day simple moving average of $21.52. The firm has a market capitalization of $403.95 million, a price-to-earnings ratio of 7.25 and a beta of 1.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. MasterCraft Boat has a one year low of $19.22 and a one year high of $31.70.

MasterCraft Boat (NASDAQ:MCFTGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The firm had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The business’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. Analysts predict that MasterCraft Boat will post 1.51 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their price target on MasterCraft Boat from $20.00 to $22.00 and gave the company a hold rating in a report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $24.83.

View Our Latest Stock Report on MasterCraft Boat

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 118,620 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $21.84 per share, for a total transaction of $2,590,660.80. Following the completion of the transaction, the insider now directly owns 2,151,676 shares in the company, valued at approximately $46,992,603.84. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Several large investors have recently added to or reduced their stakes in MCFT. Tower Research Capital LLC TRC boosted its position in shares of MasterCraft Boat by 143.8% during the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after buying an additional 489 shares during the period. Quarry LP purchased a new position in shares of MasterCraft Boat during the first quarter valued at approximately $41,000. Group One Trading L.P. boosted its position in shares of MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. Meeder Asset Management Inc. boosted its position in shares of MasterCraft Boat by 44.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after buying an additional 443 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of MasterCraft Boat during the second quarter valued at approximately $52,000. 97.64% of the stock is owned by institutional investors.

MasterCraft Boat Company Profile

(Get Free Report)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.

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