MasterCraft Boat (NASDAQ:MCFT) Releases Earnings Results, Beats Expectations By $0.09 EPS

MasterCraft Boat (NASDAQ:MCFT) released its quarterly earnings data 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 net margin of 2.13% and a return on equity of 9.44%. The firm had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. During the same period last year, the business earned $0.43 earnings per share. MasterCraft Boat’s revenue was down 37.2% compared to the same quarter last year.

MasterCraft Boat Trading Up 2.9 %

Shares of NASDAQ MCFT traded up $0.63 during mid-day trading on Thursday, hitting $22.66. The company’s stock had a trading volume of 305,675 shares, compared to its average volume of 160,041. The stock has a market cap of $376.38 million, a price-to-earnings ratio of 51.50 and a beta of 1.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.99 and a quick ratio of 1.42. MasterCraft Boat has a one year low of $16.12 and a one year high of $24.05. The company’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $19.20.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCFT shares. StockNews.com downgraded shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 price objective on shares of MasterCraft Boat in a research note on Friday, August 30th. Truist Financial boosted their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday. B. Riley upped their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday. Finally, DA Davidson dropped their price objective on shares of MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, MasterCraft Boat presently has an average rating of “Hold” and a consensus price target of $20.40.

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.