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

MasterCraft Boat (NASDAQ:MCFT) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

MasterCraft Boat Trading Up 4.0 %

NASDAQ:MCFT opened at $23.72 on Friday. MasterCraft Boat has a fifty-two week low of $19.22 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. The stock has a market capitalization of $403.95 million, a PE ratio of 7.25 and a beta of 1.63. The business’s 50-day simple moving average is $21.57 and its 200-day simple moving average is $21.52.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 24,167 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $20.72 per share, for a total transaction of $500,740.24. Following the purchase, the insider now directly owns 2,025,578 shares in the company, valued at approximately $41,969,976.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MCFT. Tower Research Capital LLC TRC increased its holdings in shares of MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after acquiring an additional 489 shares during the last quarter. Group One Trading L.P. increased its holdings in shares of MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of MasterCraft Boat by 44.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock worth $37,000 after acquiring an additional 443 shares during the last quarter. Quarry LP acquired a new position in shares of MasterCraft Boat during the 1st quarter worth approximately $41,000. Finally, UBS Group AG increased its holdings in shares of MasterCraft Boat by 932.3% during the 3rd quarter. UBS Group AG now owns 2,302 shares of the company’s stock worth $43,000 after acquiring an additional 2,079 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.