Zacks: Analysts Anticipate Malibu Boats Inc (MBUU) to Announce $0.55 Earnings Per Share

Analysts forecast that Malibu Boats Inc (NASDAQ:MBUU) will announce earnings per share (EPS) of $0.55 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Malibu Boats’ earnings, with estimates ranging from $0.52 to $0.57. Malibu Boats reported earnings of $0.42 per share in the same quarter last year, which indicates a positive year over year growth rate of 31%. The business is expected to issue its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Malibu Boats will report full year earnings of $3.23 per share for the current fiscal year, with EPS estimates ranging from $3.12 to $3.34. For the next financial year, analysts anticipate that the firm will post earnings of $3.78 per share, with EPS estimates ranging from $3.60 to $3.96. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Malibu Boats.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, September 6th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.17. The company had revenue of $138.66 million for the quarter, compared to the consensus estimate of $122.65 million. Malibu Boats had a return on equity of 43.60% and a net margin of 5.56%. The firm’s quarterly revenue was up 84.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS.

Several research firms recently weighed in on MBUU. B. Riley upgraded Malibu Boats from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.50 to $60.00 in a research note on Monday, September 17th. SunTrust Banks upped their price target on Malibu Boats to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. BMO Capital Markets upped their price target on Malibu Boats from $48.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, ValuEngine downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $57.14.

Shares of Malibu Boats stock traded down $0.65 during midday trading on Thursday, hitting $44.29. The company had a trading volume of 149,079 shares, compared to its average volume of 194,205. The company has a quick ratio of 1.37, a current ratio of 2.05 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $944.45 million, a P/E ratio of 17.58, a PEG ratio of 0.96 and a beta of 1.11. Malibu Boats has a 52-week low of $27.44 and a 52-week high of $59.57.

In other Malibu Boats news, CFO Wayne R. Wilson sold 14,088 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $52.34, for a total transaction of $737,365.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Ritchie L. Anderson sold 10,750 shares of the stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $52.58, for a total value of $565,235.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,823 shares of company stock worth $11,390,169. Company insiders own 3.35% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Hawaiian Bank purchased a new stake in Malibu Boats during the 3rd quarter valued at $235,000. Moody Aldrich Partners LLC boosted its stake in Malibu Boats by 14.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 66,131 shares of the company’s stock valued at $2,774,000 after purchasing an additional 8,441 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Malibu Boats by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 154,158 shares of the company’s stock valued at $6,465,000 after purchasing an additional 12,369 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Malibu Boats during the 2nd quarter valued at $2,193,000. Finally, Millennium Management LLC boosted its stake in Malibu Boats by 1,966.0% during the 2nd quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after purchasing an additional 271,896 shares during the last quarter. Institutional investors and hedge funds own 97.86% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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