MasterCraft Boat (NASDAQ:MCFT) Releases FY24 Earnings Guidance

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.95-1.05 for the period, compared to the consensus EPS estimate of $1.60. The company issued revenue guidance of $360-365 million, compared to the consensus revenue estimate of $406.85 million.

Analysts Set New Price Targets

Several research firms have recently commented on MCFT. B. Riley dropped their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Truist Financial boosted their target price on MasterCraft Boat from $20.00 to $22.00 and gave the stock a hold rating in a report on Tuesday, January 9th. Four 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.com, the company has a consensus rating of Hold and an average target price of $24.67.

MasterCraft Boat Stock Performance

MCFT traded down $0.29 during midday trading on Wednesday, hitting $19.79. 544,697 shares of the company traded hands, compared to its average volume of 129,701. The company's 50-day moving average is $21.66 and its 200 day moving average is $21.42. MasterCraft Boat has a 52 week low of $18.01 and a 52 week high of $31.70. The firm has a market capitalization of $337.10 million, a PE ratio of 6.05 and a beta of 1.65. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, beating 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 net margin of 10.66% and a return on equity of 32.01%. The firm's revenue for the quarter was down 37.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. On average, research analysts expect that MasterCraft Boat will post 1.51 EPS for the current year.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 26,039 shares of the company's stock in a transaction dated Monday, April 22nd. The shares were acquired at an average price of $21.34 per share, for a total transaction of $555,672.26. Following the purchase, the insider now directly owns 2,357,406 shares of the company's stock, valued at approximately $50,307,044.04. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought 347,217 shares of company stock valued at $7,430,463 in the last ninety days. 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.