Malibu Boats Inc (NASDAQ:MBUU) to Post Q1 2019 Earnings of $0.55 Per Share, B. Riley Forecasts

Malibu Boats Inc (NASDAQ:MBUU) – Research analysts at B. Riley issued their Q1 2019 EPS estimates for shares of Malibu Boats in a report issued on Tuesday, October 16th, Zacks Investment Research reports. B. Riley analyst E. Wold forecasts that the company will post earnings of $0.55 per share for the quarter. B. Riley has a “Buy” rating and a $60.00 price target on the stock. B. Riley also issued estimates for Malibu Boats’ Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $1.00 EPS, Q4 2019 earnings at $0.85 EPS, FY2019 earnings at $3.12 EPS, Q1 2020 earnings at $0.69 EPS, Q2 2020 earnings at $0.83 EPS, Q3 2020 earnings at $1.06 EPS, Q4 2020 earnings at $0.93 EPS and FY2020 earnings at $3.50 EPS.

A number of other brokerages have also issued reports on MBUU. Raymond James upped their price objective on Malibu Boats from $48.00 to $61.00 and gave the company a “strong-buy” rating in a report on Friday, September 7th. BMO Capital Markets upped their price objective on Malibu Boats from $48.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Zacks Investment Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a report on Thursday, September 13th. SunTrust Banks upped their price objective on Malibu Boats to $60.00 and gave the company a “buy” rating in a report on Friday, September 7th. Finally, BidaskClub upgraded Malibu Boats from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.57.

MBUU stock traded down $3.02 during trading on Thursday, reaching $47.21. 351,060 shares of the company’s stock were exchanged, compared to its average volume of 267,815. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 2.19. Malibu Boats has a 1-year low of $27.56 and a 1-year high of $59.57. The firm has a market capitalization of $1.02 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.03 and a beta of 1.45.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.13. Malibu Boats had a return on equity of 44.97% and a net margin of 6.39%. The company had revenue of $123.50 million during the quarter, compared to analyst estimates of $113.67 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis.

In related news, CFO Wayne R. Wilson sold 14,088 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $52.34, for a total transaction of $737,365.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jackie D. Jr. Springer sold 95,985 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $52.81, for a total value of $5,068,967.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,823 shares of company stock valued at $11,390,169. 3.35% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in MBUU. Wells Fargo & Company MN lifted its position in shares of Malibu Boats by 41.6% in the 1st quarter. Wells Fargo & Company MN now owns 223,973 shares of the company’s stock worth $7,438,000 after acquiring an additional 65,817 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Malibu Boats by 11.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 97,737 shares of the company’s stock worth $3,246,000 after buying an additional 9,909 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Malibu Boats by 1.6% in the 1st quarter. Northern Trust Corp now owns 280,710 shares of the company’s stock worth $9,323,000 after buying an additional 4,353 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Malibu Boats by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 761,143 shares of the company’s stock worth $25,278,000 after buying an additional 85,358 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Malibu Boats by 147.3% in the 1st quarter. UBS Group AG now owns 163,758 shares of the company’s stock worth $5,439,000 after buying an additional 97,550 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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