Zacks: Brokerages Anticipate MCBC Holdings Inc (MCFT) Will Post Quarterly Sales of $90.66 Million

Equities research analysts expect MCBC Holdings Inc (NASDAQ:MCFT) to post sales of $90.66 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for MCBC’s earnings. The highest sales estimate is $90.90 million and the lowest is $89.93 million. MCBC posted sales of $65.05 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 39.4%. The firm is scheduled to announce its next earnings report on Thursday, November 8th.

On average, analysts expect that MCBC will report full year sales of $380.46 million for the current year, with estimates ranging from $377.70 million to $383.67 million. For the next financial year, analysts anticipate that the business will report sales of $405.71 million per share, with estimates ranging from $400.00 million to $411.95 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover MCBC.

MCBC (NASDAQ:MCFT) last announced its earnings results on Thursday, September 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.15. The firm had revenue of $95.43 million during the quarter, compared to analysts’ expectations of $89.29 million. MCBC had a return on equity of 108.42% and a net margin of 11.92%. The company’s revenue was up 63.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised MCBC from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. BidaskClub cut MCBC from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 target price on shares of MCBC in a research report on Friday, July 20th. Robert W. Baird upped their target price on MCBC from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, B. Riley upped their target price on MCBC from $28.00 to $36.50 and gave the stock a “buy” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. MCBC has a consensus rating of “Buy” and a consensus price target of $32.70.

Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in shares of MCBC by 0.8% in the first quarter. Wells Fargo & Company MN now owns 418,690 shares of the company’s stock valued at $10,551,000 after acquiring an additional 3,363 shares during the period. Victory Capital Management Inc. bought a new stake in shares of MCBC in the first quarter valued at approximately $226,000. Chicago Equity Partners LLC boosted its position in shares of MCBC by 8.3% in the first quarter. Chicago Equity Partners LLC now owns 93,810 shares of the company’s stock valued at $2,364,000 after acquiring an additional 7,220 shares during the period. First Mercantile Trust Co. bought a new stake in shares of MCBC in the first quarter valued at approximately $194,000. Finally, Columbus Circle Investors bought a new stake in shares of MCBC in the first quarter valued at approximately $4,131,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Shares of MCBC stock opened at $36.22 on Friday. The company has a market cap of $695.49 million, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.06 and a beta of 1.09. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.73 and a quick ratio of 0.33. MCBC has a 12-month low of $18.03 and a 12-month high of $37.63.

MCBC Company Profile

MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets recreational sport boats in North America and internationally. The company offers recreational performance sport boats, which are primarily used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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