MasterCraft Boat (NASDAQ:MCFT) Issues FY 2024 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.530-1.780 for the period, compared to the consensus EPS estimate of 1.600. The company issued revenue guidance of $400.0 million-$412.0 million, compared to the consensus revenue estimate of $405.6 million. MasterCraft Boat also updated its Q3 2024 guidance to 0.230-0.230 EPS.

Wall Street Analyst Weigh In

Separately, Truist Financial boosted their price objective on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $24.83.

MasterCraft Boat Trading Up 3.7 %

NASDAQ:MCFT opened at $22.81 on Thursday. The company has a fifty day moving average of $21.44 and a 200 day moving average of $21.48. MasterCraft Boat has a 52 week low of $19.22 and a 52 week high of $31.70. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $388.45 million, a P/E ratio of 6.98 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The business had revenue of $99.48 million during the quarter, compared to analyst estimates of $95.53 million. During the same period in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 37.5% on a year-over-year basis. On average, research analysts predict that MasterCraft Boat will post 1.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L acquired 118,620 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was acquired at an average cost 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 $46,992,603.84. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

Institutional Trading of MasterCraft Boat

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of MasterCraft Boat by 9.9% in the 2nd quarter. BlackRock Inc. now owns 1,558,057 shares of the company’s stock worth $47,754,000 after buying an additional 139,923 shares during the period. Vanguard Group Inc. grew its position in shares of MasterCraft Boat by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,333,985 shares of the company’s stock worth $30,201,000 after buying an additional 31,560 shares during the period. Divisar Capital Management LLC grew its position in shares of MasterCraft Boat by 12.0% in the 1st quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock worth $29,852,000 after buying an additional 130,333 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MasterCraft Boat by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 646,671 shares of the company’s stock worth $14,641,000 after buying an additional 57,660 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of MasterCraft Boat by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 384,064 shares of the company’s stock worth $11,772,000 after buying an additional 13,436 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Company Profile

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.