MasterCraft Boat (NASDAQ:MCFT) Issues FY 2023 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFTGet Rating) updated its FY 2023 earnings guidance on Thursday. 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com raised MasterCraft Boat from a buy rating to a strong-buy rating in a research note on Tuesday, September 13th. Robert W. Baird lowered their price target on MasterCraft Boat from $32.00 to $30.00 in a research report on Friday, September 9th. Raymond James lowered their price target on MasterCraft Boat from $38.00 to $29.00 and set an outperform rating on the stock in a research report on Friday, September 9th. Stifel Nicolaus initiated coverage on MasterCraft Boat in a research report on Thursday, August 18th. They set a buy rating and a $35.00 price target on the stock. Finally, B. Riley lowered their price target on MasterCraft Boat from $46.00 to $37.00 and set a buy rating on the stock in a research 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. According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $31.40.

MasterCraft Boat Stock Down 2.3 %

MCFT opened at $20.37 on Thursday. The company has a market cap of $369.72 million, a P/E ratio of 6.53 and a beta of 1.79. The business’s 50-day moving average price is $23.75 and its 200-day moving average price is $23.62. The company has a current ratio of 1.57, a quick ratio of 0.72 and a debt-to-equity ratio of 0.37. MasterCraft Boat has a 12 month low of $20.02 and a 12 month high of $29.69.

MasterCraft Boat (NASDAQ:MCFTGet Rating) last released its quarterly earnings data on Thursday, September 8th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.46 by $0.31. MasterCraft Boat had a return on equity of 62.88% and a net margin of 8.22%. During the same period in the prior year, the company earned $0.94 EPS. On average, equities analysts expect that MasterCraft Boat will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Divisar Capital Management LLC boosted its position in MasterCraft Boat by 12.0% during the 1st quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock valued at $29,852,000 after acquiring an additional 130,333 shares in the last quarter. Millennium Management LLC boosted its position in MasterCraft Boat by 890.3% during the 2nd quarter. Millennium Management LLC now owns 121,142 shares of the company’s stock valued at $2,550,000 after acquiring an additional 108,909 shares in the last quarter. Wellington Management Group LLP boosted its position in MasterCraft Boat by 39.4% during 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 in the last quarter. Invesco Ltd. boosted its position in MasterCraft Boat by 204.9% during the 1st quarter. Invesco Ltd. now owns 88,388 shares of the company’s stock valued at $2,175,000 after acquiring an additional 59,396 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in MasterCraft Boat by 130.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 83,149 shares of the company’s stock valued at $1,751,000 after acquiring an additional 47,129 shares in the last quarter. Hedge funds and other institutional investors 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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Earnings History and Estimates for MasterCraft Boat (NASDAQ:MCFT)

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