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

MasterCraft Boat (NASDAQ:MCFT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.530-1.780 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Separately, Truist Financial raised their target price on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $24.83.

MasterCraft Boat Trading Up 4.0 %

MCFT opened at $23.72 on Friday. MasterCraft Boat has a twelve month low of $19.22 and a twelve month high of $31.70. The company has a 50-day simple moving average of $21.51 and a 200 day simple moving average of $21.49. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $403.95 million, a price-to-earnings ratio of 7.25 and a beta of 1.63.

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

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L bought 24,167 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $20.72 per share, with a total value of $500,740.24. Following the transaction, the insider now owns 2,025,578 shares of the company’s stock, valued at approximately $41,969,976.16. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On MasterCraft Boat

A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of MasterCraft Boat by 9.9% during the 2nd quarter. BlackRock Inc. now owns 1,558,057 shares of the company’s stock valued at $47,754,000 after purchasing an additional 139,923 shares during the last quarter. Vanguard Group Inc. boosted its stake in MasterCraft Boat by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,333,985 shares of the company’s stock worth $30,201,000 after purchasing an additional 31,560 shares during the period. Divisar Capital Management LLC boosted its stake in MasterCraft Boat by 12.0% in the 1st quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock worth $29,852,000 after purchasing an additional 130,333 shares during the period. Dimensional Fund Advisors LP boosted its stake in MasterCraft Boat by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 646,671 shares of the company’s stock worth $14,641,000 after purchasing an additional 57,660 shares during the period. Finally, Geode Capital Management LLC boosted its stake in MasterCraft Boat by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 384,064 shares of the company’s stock worth $11,772,000 after purchasing an additional 13,436 shares during the period. 97.64% of the stock is currently owned by institutional investors.

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.