Malibu Boats (NASDAQ:MBUU) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS


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Malibu Boats (NASDAQ:MBUU) announced its quarterly earnings data on Tuesday. The company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.17, MarketWatch Earnings reports. The firm had revenue of $273.16 million for the quarter, compared to the consensus estimate of $255.13 million. Malibu Boats had a net margin of 10.09% and a return on equity of 28.93%. The company’s revenue was up 49.8% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. Malibu Boats updated its FY 2021 guidance to – EPS.

Shares of MBUU stock traded down $3.91 during trading hours on Tuesday, reaching $82.89. 6,177 shares of the stock were exchanged, compared to its average volume of 207,297. Malibu Boats has a 12-month low of $31.66 and a 12-month high of $93.00. The company has a current ratio of 1.74, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $83.64 and its 200-day moving average price is $70.54. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 26.01 and a beta of 1.94.

MBUU has been the topic of several recent analyst reports. B. Riley raised their price objective on shares of Malibu Boats from $85.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, February 10th. BMO Capital Markets lifted their price target on shares of Malibu Boats from $86.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Raymond James lifted their price target on shares of Malibu Boats from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, March 29th. Zacks Investment Research downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Wednesday, April 14th. Finally, Truist lifted their price target on shares of Malibu Boats from $75.00 to $82.00 in a report on Wednesday, January 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $78.00.

In related news, CFO Wayne R. Wilson sold 27,266 shares of Malibu Boats stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $77.42, for a total transaction of $2,110,933.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jackie D. Jr. Springer sold 17,341 shares of Malibu Boats stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $77.03, for a total transaction of $1,335,777.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,100 shares of company stock valued at $5,209,415. 1.74% of the stock is owned by corporate insiders.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Cobalt, and Pursuit. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands.

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Earnings History for Malibu Boats (NASDAQ:MBUU)

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