MasterCraft Boat (NASDAQ:MCFT) Releases FY24 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.95-1.05 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of $360-365 million, compared to the consensus revenue estimate of $406.85 million.

MasterCraft Boat Stock Performance

NASDAQ MCFT traded down $0.48 during trading hours on Wednesday, hitting $19.60. 420,354 shares of the company’s stock traded hands, compared to its average volume of 128,094. The business’s fifty day moving average price is $21.66 and its two-hundred day moving average price is $21.42. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $333.79 million, a P/E ratio of 5.72 and a beta of 1.65. MasterCraft Boat has a 52 week low of $18.01 and a 52 week high of $31.70.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a research report on Tuesday, January 9th. B. Riley lowered their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, MasterCraft Boat has an average rating of Hold and a consensus price target of $24.67.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 26,039 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average cost of $21.34 per share, for a total transaction of $555,672.26. Following the completion of the acquisition, the insider now owns 2,357,406 shares in the company, valued at approximately $50,307,044.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 347,217 shares of company stock worth $7,430,463. Insiders own 2.50% of the company’s stock.

About MasterCraft Boat

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.