MasterCraft Boat (NASDAQ:MCFT) Updates Q3 2024 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFTGet Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.230-0.230 for the period, compared to the consensus estimate of 0.230. The company issued revenue guidance of $92.0 million-$92.0 million, compared to the consensus revenue estimate of $92.8 million. MasterCraft Boat also updated its FY 2024 guidance to 1.530-1.780 EPS.

MasterCraft Boat Stock Up 4.0 %

Shares of NASDAQ MCFT opened at $23.72 on Friday. The stock has a 50 day moving average price of $21.57 and a 200 day moving average price of $21.52. MasterCraft Boat has a 52-week low of $19.22 and a 52-week high of $31.70. The firm has a market capitalization of $403.95 million, a price-to-earnings ratio of 7.25 and a beta of 1.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11.

MasterCraft Boat (NASDAQ:MCFTGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The firm had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. During the same quarter in the previous year, the firm earned $1.16 EPS. The company’s quarterly revenue was down 37.5% compared to the same quarter last year. Sell-side analysts expect that MasterCraft Boat will post 1.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price objective on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research note on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MasterCraft Boat presently has a consensus rating of Hold and a consensus target price of $24.83.

Read Our Latest Analysis on MCFT

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L acquired 118,620 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were bought at an average price of $21.84 per share, for a total transaction of $2,590,660.80. Following the acquisition, the insider now owns 2,151,676 shares of the company’s stock, valued at approximately $46,992,603.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of MasterCraft Boat by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock worth $2,042,000 after buying an additional 1,042 shares during the last quarter. American Century Companies Inc. raised its position in MasterCraft Boat by 121.7% in the first quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock valued at $912,000 after purchasing an additional 20,334 shares during the period. Group One Trading L.P. lifted its stake in shares of MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of MasterCraft Boat by 67.7% during the 1st quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock worth $221,000 after purchasing an additional 3,626 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of MasterCraft Boat by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock worth $13,287,000 after purchasing an additional 5,852 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

MasterCraft Boat Company Profile

(Get Free Report)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.

Further Reading

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