MasterCraft Boat (NASDAQ:MCFT – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.89-$4.31 for the period, compared to the consensus estimate of $4.87. The company issued revenue guidance of $580.00 million-$615.00 million, compared to the consensus revenue estimate of $711.81 million. MasterCraft Boat also updated its Q1 2023 guidance to $1.30-$1.30 EPS.
MasterCraft Boat Stock Performance
Shares of MCFT opened at $21.55 on Friday. The company's 50 day simple moving average is $23.79 and its 200-day simple moving average is $23.73. The firm has a market cap of $391.13 million, a PE ratio of 6.91 and a beta of 1.79. MasterCraft Boat has a 12-month low of $20.02 and a 12-month high of $29.69. The company has a current ratio of 1.57, a quick ratio of 0.50 and a debt-to-equity ratio of 0.37.
Get MasterCraft Boat alerts:MasterCraft Boat (NASDAQ:MCFT – Get Rating) last issued its quarterly earnings data on Thursday, September 8th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.31. MasterCraft Boat had a net margin of 8.22% and a return on equity of 62.88%. During the same quarter in the prior year, the company posted $0.94 EPS. As a group, equities analysts predict that MasterCraft Boat will post 4.24 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on MCFT. B. Riley decreased their price objective on MasterCraft Boat from $46.00 to $37.00 and set a buy rating for the company in a research report on Friday, September 9th. Robert W. Baird lowered their price objective on shares of MasterCraft Boat from $32.00 to $30.00 in a research report on Friday, September 9th. StockNews.com upgraded shares of MasterCraft Boat from a buy rating to a strong-buy rating in a research report on Tuesday, September 13th. Stifel Nicolaus started coverage on shares of MasterCraft Boat in a report on Thursday, August 18th. They issued a buy rating and a $35.00 target price on the stock. Finally, Raymond James cut their price target on shares of MasterCraft Boat from $38.00 to $29.00 and set an outperform rating for the company in a report on Friday, September 9th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Buy and an average target price of $31.40.Institutional Trading of MasterCraft Boat
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Divisar Capital Management LLC raised its holdings in MasterCraft Boat by 12.0% during the first quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company's stock worth $29,852,000 after purchasing an additional 130,333 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MasterCraft Boat by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company's stock worth $13,287,000 after buying an additional 5,852 shares in the last quarter. Wellington Management Group LLP grew its stake in MasterCraft Boat by 39.4% in the 1st quarter. Wellington Management Group LLP now owns 372,400 shares of the company's stock valued at $9,165,000 after acquiring an additional 105,300 shares during the last quarter. State Street Corp increased its holdings in MasterCraft Boat by 2.9% during the 1st quarter. State Street Corp now owns 345,159 shares of the company's stock valued at $8,494,000 after acquiring an additional 9,605 shares in the last quarter. Finally, Millennium Management LLC raised its position in MasterCraft Boat by 890.3% during the second quarter. Millennium Management LLC now owns 121,142 shares of the company's stock worth $2,550,000 after acquiring an additional 108,909 shares during the last quarter. Institutional investors and hedge funds own 89.33% of the company's stock.
About MasterCraft Boat
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MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through four segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment produces recreational performance sport boats, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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