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

MasterCraft Boat (NASDAQ:MCFT) issued an update on 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.

MasterCraft Boat Price Performance

NASDAQ MCFT opened at $22.81 on Thursday. MasterCraft Boat has a 1-year low of $19.22 and a 1-year high of $31.70. The business’s fifty day moving average price is $21.44 and its 200-day moving average price is $21.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. The stock has a market capitalization of $388.45 million, a price-to-earnings ratio of 6.98 and a beta of 1.63.

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

Wall Street Analyst Weigh In

Separately, Truist Financial increased 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat presently has an average rating of Hold and a consensus target price of $24.83.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L bought 118,620 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $21.84 per share, with a total value of $2,590,660.80. Following the completion of the purchase, the insider now owns 2,151,676 shares of the company’s stock, valued at approximately $46,992,603.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

A number of hedge funds have recently bought and sold shares of MCFT. BlackRock Inc. raised its position in MasterCraft Boat by 9.9% during the second 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 period. Vanguard Group Inc. raised its holdings in MasterCraft Boat by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,333,985 shares of the company’s stock valued at $30,201,000 after buying an additional 31,560 shares during the period. Divisar Capital Management LLC lifted its position in MasterCraft Boat by 12.0% in the first quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock worth $29,852,000 after buying an additional 130,333 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in MasterCraft Boat by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 646,671 shares of the company’s stock worth $14,641,000 after buying an additional 57,660 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in MasterCraft Boat by 3.6% during the second quarter. Geode Capital Management LLC now owns 384,064 shares of the company’s stock worth $11,772,000 after buying an additional 13,436 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

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.