MasterCraft Boat (NASDAQ:MCFT) Releases Q2 2022 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.790-$0.790 for the period, compared to the Thomson Reuters consensus estimate of $1.000. The company issued revenue guidance of $154.28 million-$154.28 million, compared to the consensus revenue estimate of $150.43 million.MasterCraft Boat also updated its FY 2022 guidance to $4.140-$4.140 EPS.

MCFT stock traded down $0.11 during midday trading on Thursday, reaching $28.59. 57,736 shares of the company traded hands, compared to its average volume of 187,640. MasterCraft Boat has a 52-week low of $21.18 and a 52-week high of $33.63. 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 business has a 50 day moving average of $26.84 and a 200-day moving average of $26.73. The firm has a market capitalization of $541.67 million, a price-to-earnings ratio of 9.50 and a beta of 2.15.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, November 10th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.13. MasterCraft Boat had a return on equity of 64.20% and a net margin of 10.07%. During the same quarter in the prior year, the firm earned $0.55 EPS. Research analysts anticipate that MasterCraft Boat will post 3.9 earnings per share for the current year.

MCFT has been the topic of a number of recent research reports. Raymond James upped their price objective on MasterCraft Boat from $36.00 to $39.00 and gave the company an outperform rating in a research report on Thursday, November 11th. B. Riley reiterated a buy rating and issued a $45.00 price target on shares of MasterCraft Boat in a report on Monday, September 13th. Finally, Zacks Investment Research downgraded MasterCraft Boat from a buy rating to a hold rating in a report on Wednesday, November 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $36.80.

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

Several institutional investors have recently bought and sold shares of MCFT. BNP Paribas Arbitrage SA raised its stake in MasterCraft Boat by 354.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,839 shares of the company’s stock worth $96,000 after acquiring an additional 2,994 shares during the last quarter. Invesco Ltd. raised its stake in 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 acquiring an additional 2,984 shares during the last quarter. Bank of New York Mellon Corp raised its stake in MasterCraft Boat by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 77,708 shares of the company’s stock worth $1,949,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in MasterCraft Boat by 50.8% in the 3rd quarter. Royal Bank of Canada now owns 1,947 shares of the company’s stock worth $48,000 after acquiring an additional 656 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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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