MasterCraft Boat (NASDAQ:MCFT) Issues FY 2023 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided EPS guidance of $4.20-$4.60 for the period, compared to the consensus EPS estimate of $4.07. The company issued revenue guidance of $590.00 million-$625.00 million, compared to the consensus revenue estimate of $597.65 million. MasterCraft Boat also updated its Q2 2023 guidance to $1.00-$1.00 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Raymond James raised their price objective on shares of MasterCraft Boat from $29.00 to $31.00 and gave the company an outperform rating in a research report on Thursday, November 10th. StockNews.com lowered shares of MasterCraft Boat from a strong-buy rating to a buy rating in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of MasterCraft Boat from $31.00 to $29.00 in a research report on Thursday, October 20th. Robert W. Baird cut their price objective on shares of MasterCraft Boat from $32.00 to $30.00 in a research report on Friday, September 9th. Finally, B. Riley cut their price objective on shares of MasterCraft Boat from $37.00 to $31.00 and set a buy rating on the stock in a research report on Tuesday, October 25th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, MasterCraft Boat presently has a consensus rating of Buy and an average price target of $29.40.

MasterCraft Boat Trading Up 0.5 %

Shares of MCFT stock opened at $26.19 on Friday. MasterCraft Boat has a 12 month low of $18.49 and a 12 month high of $29.69. The company has a quick ratio of 0.85, a current ratio of 1.73 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $22.83 and its two-hundred day moving average is $22.84. The company has a market cap of $466.18 million, a PE ratio of 9.35 and a beta of 1.84.

MasterCraft Boat (NASDAQ:MCFT – Get Rating) last announced its quarterly earnings results on Thursday, September 8th. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.46 by $0.28. MasterCraft Boat had a return on equity of 68.92% and a net margin of 7.08%. The company had revenue of $217.65 million for the quarter, compared to the consensus estimate of $195.11 million. During the same quarter last year, the company posted $0.94 earnings per share. Equities analysts predict that MasterCraft Boat will post 4.2 EPS for the current year.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently modified their holdings of MCFT. Group One Trading L.P. grew its stake in shares of MasterCraft Boat by 55.9% in the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. UBS Group AG grew its stake in shares of MasterCraft Boat by 932.3% in the third quarter. UBS Group AG now owns 2,302 shares of the company’s stock worth $43,000 after acquiring an additional 2,079 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of MasterCraft Boat by 88.5% in the first quarter. Lazard Asset Management LLC now owns 3,408 shares of the company’s stock worth $83,000 after acquiring an additional 1,600 shares during the last quarter. Prelude Capital Management LLC acquired a new stake in shares of MasterCraft Boat in the third quarter worth $216,000. Finally, MetLife Investment Management LLC grew its stake in shares of MasterCraft Boat by 67.7% in the first quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock worth $221,000 after acquiring an additional 3,626 shares during the last quarter. Institutional investors and hedge funds own 89.33% of the company’s stock.

MasterCraft Boat Company Profile

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MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through four segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment produces recreational performance sport boats, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.