MasterCraft Boat (NASDAQ:MCFT) Releases FY 2022 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $4.140-$4.140 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.930. The company issued revenue guidance of $630.97 million-$630.97 million, compared to the consensus revenue estimate of $622.07 million.MasterCraft Boat also updated its Q2 2022 guidance to $0.790-$0.790 EPS.

Several equities research analysts have recently weighed in on the stock. B. Riley reissued a buy rating and issued a $45.00 target price on shares of MasterCraft Boat in a research report on Monday, September 13th. Raymond James boosted their target price on shares of MasterCraft Boat from $36.00 to $39.00 and gave the stock an outperform rating in a research report on Thursday, November 11th. Finally, Zacks Investment Research downgraded shares of MasterCraft Boat from a buy rating to a hold rating in a research report on Wednesday, November 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and an average target price of $36.80.

Shares of NASDAQ MCFT traded down $0.11 during midday trading on Thursday, hitting $28.59. The company’s stock had a trading volume of 57,736 shares, compared to its average volume of 187,640. MasterCraft Boat has a 1-year low of $21.18 and a 1-year high of $33.63. The firm’s fifty day moving average price is $26.84 and its 200-day moving average price is $26.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.49 and a current ratio of 1.50. The firm has a market cap of $541.67 million, a P/E ratio of 9.50 and a beta of 2.15.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Wednesday, November 10th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.13. MasterCraft Boat had a net margin of 10.07% and a return on equity of 64.20%. During the same period last year, the firm posted $0.55 earnings per share. As a group, research analysts predict that MasterCraft Boat will post 3.9 earnings per share for the current fiscal year.

In other MasterCraft Boat news, Director Donald C. Campion sold 2,069 shares of the business’s stock in a transaction dated Tuesday, October 12th. The shares were sold at an average price of $26.46, for a total transaction of $54,745.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald C. Campion sold 4,641 shares of the business’s stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $26.47, for a total transaction of $122,847.27. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCFT. Invesco Ltd. raised its holdings in shares of MasterCraft Boat by 10.1% in the 3rd quarter. Invesco Ltd. now owns 32,654 shares of the company’s stock worth $818,000 after purchasing an additional 2,984 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of MasterCraft Boat by 50.8% during the third quarter. Royal Bank of Canada now owns 1,947 shares of the company’s stock valued at $48,000 after acquiring an additional 656 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of MasterCraft Boat by 354.3% during the third quarter. BNP Paribas Arbitrage SA now owns 3,839 shares of the company’s stock valued at $96,000 after acquiring an additional 2,994 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of MasterCraft Boat by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 77,708 shares of the company’s stock valued at $1,949,000 after acquiring an additional 1,182 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

MasterCraft Boat Company Profile

Mastercraft Boat Holdings, Inc engages in the designing, manufacturing, and selling of boats. It operates through the MasterCraft, NauticStar, and Crest segments. The MasterCraft segment offers recreational performance boats used for water skiing, wakeboarding, and wake surfing activities and general recreational boating under product brands, such as MasterCraft and Aviar .

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Earnings History and Estimates for MasterCraft Boat (NASDAQ:MCFT)

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