B. Riley Equities Analysts Reduce Earnings Estimates for MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Posted by on Jun 14th, 2023

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT – Get Rating) – Equities research analysts at B. Riley lowered their Q1 2024 EPS estimates for MasterCraft Boat in a report released on Monday, June 12th. B. Riley analyst E. Wold now expects that the company will post earnings of $0.86 per share for the quarter, down from their prior forecast of $0.99. The consensus estimate for MasterCraft Boat’s current full-year earnings is $4.89 per share. B. Riley also issued estimates for MasterCraft Boat’s Q2 2024 earnings at $0.97 EPS.

MasterCraft Boat (NASDAQ:MCFT – Get Rating) last posted its quarterly earnings data on Wednesday, May 10th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.31. MasterCraft Boat had a net margin of 8.10% and a return on equity of 64.21%. The business had revenue of $166.78 million for the quarter, compared to analysts’ expectations of $158.37 million.

MCFT has been the topic of a number of other reports. KeyCorp began coverage on shares of MasterCraft Boat in a report on Wednesday, April 19th. They issued a “sector weight” rating on the stock. StockNews.com cut shares of MasterCraft Boat from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, DA Davidson began coverage on shares of MasterCraft Boat in a report on Tuesday, May 30th. They issued a “neutral” rating and a $29.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.17.

MasterCraft Boat Trading Up 1.3 %

NASDAQ MCFT opened at $30.50 on Tuesday. The company’s 50-day moving average price is $28.54 and its 200-day moving average price is $29.22. The company has a current ratio of 1.81, a quick ratio of 1.27 and a debt-to-equity ratio of 0.29. The stock has a market cap of $533.75 million, a PE ratio of 9.41 and a beta of 1.75. MasterCraft Boat has a 12 month low of $18.49 and a 12 month high of $35.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after acquiring an additional 489 shares in the last quarter. Group One Trading L.P. lifted its position in shares of MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of MasterCraft Boat by 44.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after buying an additional 443 shares during the last quarter. Quarry LP purchased a new stake in shares of MasterCraft Boat during the first quarter valued at about $41,000. Finally, UBS Group AG lifted its position in shares of MasterCraft Boat by 932.3% during the third quarter. UBS Group AG now owns 2,302 shares of the company’s stock valued at $43,000 after buying an additional 2,079 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

MasterCraft Boat Company Profile

(Get Rating)

Mastercraft Boat Holdings, Inc engages in the designing, manufacturing, and selling of boats. It operates through the following segments: MasterCraft, Crest, NauticStar, and Aviara. 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.

Featured Articles

Earnings History and Estimates for MasterCraft Boat (NASDAQ:MCFT)

Receive News & Ratings for MasterCraft Boat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasterCraft Boat and related companies with MarketBeat.com's FREE daily email newsletter.