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

MasterCraft Boat (NASDAQ:MCFTGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $3.89-$4.31 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCFT. B. Riley decreased their target price on MasterCraft Boat from $46.00 to $37.00 and set a buy rating for the company in a research report on Friday, September 9th. Raymond James reduced their price target on MasterCraft Boat from $38.00 to $29.00 and set an outperform rating for the company in a research report on Friday, September 9th. Stifel Nicolaus assumed coverage on MasterCraft Boat in a research report on Thursday, August 18th. They issued a buy rating and a $35.00 price target for the company. Robert W. Baird reduced their price target on MasterCraft Boat from $32.00 to $30.00 in a research report on Friday, September 9th. Finally, StockNews.com raised MasterCraft Boat from a buy rating to a strong-buy rating in a research report on Tuesday, September 13th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MasterCraft Boat presently has a consensus rating of Buy and a consensus price target of $31.40.

MasterCraft Boat Stock Down 2.7 %

MCFT stock traded down $0.54 on Thursday, hitting $19.83. 4,810 shares of the company’s stock were exchanged, compared to its average volume of 176,518. MasterCraft Boat has a 12-month low of $20.02 and a 12-month high of $29.69. The firm has a 50 day moving average price of $23.75 and a two-hundred day moving average price of $23.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 1.57. The stock has a market cap of $359.91 million, a P/E ratio of 6.53 and a beta of 1.79.

MasterCraft Boat (NASDAQ:MCFTGet Rating) last announced its earnings results on Thursday, September 8th. The company reported $1.77 earnings per share 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 quarter in the prior year, the business posted $0.94 EPS. As a group, equities research analysts expect that MasterCraft Boat will post 4.24 EPS for the current fiscal year.

Institutional Trading of MasterCraft Boat

Several large investors have recently added to or reduced their stakes in the company. Divisar Capital Management LLC grew its stake 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 purchasing an additional 130,333 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MasterCraft Boat by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 539,870 shares of the company’s stock worth $13,287,000 after buying an additional 5,852 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MasterCraft Boat by 39.4% in the first quarter. Wellington Management Group LLP now owns 372,400 shares of the company’s stock worth $9,165,000 after buying an additional 105,300 shares during the last quarter. State Street Corp boosted its stake in shares of MasterCraft Boat by 2.9% in the first quarter. State Street Corp now owns 345,159 shares of the company’s stock worth $8,494,000 after buying an additional 9,605 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of MasterCraft Boat by 890.3% in the second quarter. Millennium Management LLC now owns 121,142 shares of the company’s stock worth $2,550,000 after buying an additional 108,909 shares during 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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