MasterCraft Boat (NASDAQ:MCFT) Announces Earnings Results

MasterCraft Boat (NASDAQ:MCFT) released its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09, Briefing.com reports. MasterCraft Boat had a positive return on equity of 6.42% and a negative net margin of 1.08%. The business had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue was down 37.2% on a year-over-year basis.

MasterCraft Boat Trading Down 3.5 %

MCFT traded down $0.80 on Friday, reaching $21.86. 121,101 shares of the company’s stock were exchanged, compared to its average volume of 147,397. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. The company has a market cap of $363.03 million, a price-to-earnings ratio of -95.04 and a beta of 1.61. The company’s 50 day moving average is $17.78 and its 200-day moving average is $19.21. MasterCraft Boat has a twelve month low of $16.12 and a twelve month high of $24.05.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MCFT shares. StockNews.com downgraded shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Stifel Nicolaus reissued a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research note on Friday, August 30th. DA Davidson lifted their target price on shares of MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial increased their price target on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, B. Riley lifted their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.60.

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.