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

MasterCraft Boat (NASDAQ:MCFT) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.140-$4.140 for the period, compared to the Thomson Reuters consensus 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 analysts have issued reports on the stock. B. Riley restated a buy rating and issued a $45.00 price objective on shares of MasterCraft Boat in a research note on Monday, September 13th. Zacks Investment Research downgraded shares of MasterCraft Boat from a buy rating to a hold rating in a research note on Wednesday, November 3rd. Finally, Raymond James upped their price objective on shares of MasterCraft Boat from $36.00 to $39.00 and gave the company an outperform rating in a research note on Thursday, November 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $36.80.

Shares of MCFT traded down $0.11 during mid-day trading on Thursday, hitting $28.59. 57,736 shares of the company’s stock were exchanged, compared to its average volume of 187,640. MasterCraft Boat has a fifty-two week low of $21.18 and a fifty-two week high of $33.63. The firm has a market capitalization of $541.67 million, a P/E ratio of 9.50 and a beta of 2.15. The business’s 50 day moving average is $26.84 and its two-hundred day moving average is $26.73. The company has a current ratio of 1.50, a quick ratio of 0.49 and a debt-to-equity ratio of 0.69.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, November 10th. The company reported $0.67 earnings per share for the quarter, topping the 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 quarter in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts forecast that MasterCraft Boat will post 3.9 earnings per share for the current year.

In other MasterCraft Boat news, Director Donald C. Campion sold 4,641 shares of the stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $26.47, for a total value of $122,847.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald C. Campion sold 2,069 shares of the 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 disclosure for this sale can be found here. 1.76% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in MCFT. Royal Bank of Canada grew its position in shares of MasterCraft Boat by 50.8% in the third quarter. Royal Bank of Canada now owns 1,947 shares of the company’s stock valued at $48,000 after purchasing an additional 656 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in MasterCraft Boat by 354.3% during the third 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. boosted its position in MasterCraft Boat by 10.1% during the third 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. Finally, Bank of New York Mellon Corp boosted its position in 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 worth $1,949,000 after acquiring an additional 1,182 shares during the last quarter. 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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