MasterCraft Boat (NASDAQ:MCFT – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $3.89-$4.31 for the period, compared to the consensus EPS 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 Trading Down 2.6 %
Shares of NASDAQ MCFT opened at $19.85 on Friday. MasterCraft Boat has a 52-week low of $19.79 and a 52-week high of $29.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 1.57. The firm has a 50 day moving average price of $23.71 and a two-hundred day moving average price of $23.59. The stock has a market cap of $360.28 million, a P/E ratio of 6.36 and a beta of 1.79.
Get MasterCraft Boat alerts:MasterCraft Boat (NASDAQ:MCFT – Get Rating) last posted its quarterly earnings data on Thursday, September 8th. The company reported $1.77 earnings per share 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 previous year, the firm earned $0.94 earnings per share. As a group, equities analysts forecast that MasterCraft Boat will post 4.24 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. B. Riley lowered their target price on shares of MasterCraft Boat from $46.00 to $37.00 and set a buy rating for the company in a report on Friday, September 9th. Stifel Nicolaus began coverage on MasterCraft Boat in a research report on Thursday, August 18th. They set a buy rating and a $35.00 target price for the company. Raymond James decreased their price target on MasterCraft Boat from $38.00 to $29.00 and set an outperform rating for the company in a research note on Friday, September 9th. Robert W. Baird cut their price objective on MasterCraft Boat from $32.00 to $30.00 in a research report on Friday, September 9th. Finally, StockNews.com raised shares of MasterCraft Boat from a buy rating to a strong-buy rating in a research note on Tuesday, September 13th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $31.40.Institutional Investors Weigh In On MasterCraft Boat
A number of institutional investors and hedge funds have recently bought and sold shares of MCFT. Group One Trading L.P. grew its position in shares of MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company's stock worth $34,000 after buying an additional 500 shares in the last quarter. Rhumbline Advisers grew its holdings in MasterCraft Boat by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 21,151 shares of the company's stock worth $445,000 after acquiring an additional 769 shares in the last quarter. Vontobel Holding Ltd. increased its position in MasterCraft Boat by 2.3% during the 1st quarter. Vontobel Holding Ltd. now owns 43,081 shares of the company's stock valued at $1,081,000 after purchasing an additional 963 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of MasterCraft Boat by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company's stock valued at $2,042,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of MasterCraft Boat by 88.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,408 shares of the company's stock valued at $83,000 after purchasing an additional 1,600 shares in the last quarter. 89.33% of the stock is owned by institutional investors.
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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