Malibu Boats (NASDAQ:MBUU) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Malibu Boats (NASDAQ:MBUU) issued its earnings results on Thursday. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.16, Briefing.com reports. The business had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a positive return on equity of 2.33% and a negative net margin of 10.90%. The company’s revenue was down 32.9% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS.

Malibu Boats Trading Down 2.1 %

NASDAQ MBUU traded down $0.95 on Friday, reaching $43.93. 392,848 shares of the stock were exchanged, compared to its average volume of 193,157. The firm has a market capitalization of $879.04 million, a PE ratio of -11.04 and a beta of 1.36. Malibu Boats has a one year low of $30.20 and a one year high of $56.03. The company’s 50-day simple moving average is $39.14 and its two-hundred day simple moving average is $36.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MBUU. Truist Financial raised their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a report on Friday. B. Riley cut their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com raised Malibu Boats to a “sell” rating in a research report on Saturday. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday. Finally, Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $44.57.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.