MasterCraft Boat (NASDAQ:MCFT) Updates FY24 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.95-1.05 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of $360-365 million, compared to the consensus revenue estimate of $406.85 million.

Wall Street Analyst Weigh In

A number of research firms recently commented on MCFT. B. Riley decreased their price objective on MasterCraft Boat from $24.00 to $22.00 and set a neutral rating on the stock in a research note on Tuesday, April 16th. Truist Financial increased their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the company a hold rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $24.67.

MasterCraft Boat Trading Down 2.4 %

NASDAQ:MCFT traded down $0.48 during mid-day trading on Wednesday, reaching $19.60. The company’s stock had a trading volume of 420,354 shares, compared to its average volume of 128,094. The company’s fifty day simple moving average is $21.66 and its two-hundred day simple moving average is $21.42. The stock has a market cap of $333.79 million, a P/E ratio of 5.72 and a beta of 1.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. MasterCraft Boat has a twelve month low of $18.01 and a twelve month high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The company had revenue of $99.48 million for 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 company’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. On average, equities analysts predict that MasterCraft Boat will post 1.51 EPS for the current year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 118,620 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $21.84 per share, for a total transaction of $2,590,660.80. Following the acquisition, the insider now directly owns 2,151,676 shares in the company, valued at approximately $46,992,603.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have bought a total of 347,217 shares of company stock worth $7,430,463 in the last three months. 2.50% of the stock is currently owned by company insiders.

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.