$127.45 Million in Sales Expected for Mastercraft Boat Holdings Inc (MCFT) This Quarter

Analysts predict that Mastercraft Boat Holdings Inc (NASDAQ:MCFT) will announce sales of $127.45 million for the current quarter, Zacks reports. Six analysts have issued estimates for Mastercraft Boat’s earnings. The lowest sales estimate is $122.90 million and the highest is $130.44 million. Mastercraft Boat posted sales of $95.43 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.6%. The company is scheduled to announce its next earnings report on Thursday, September 5th.

According to Zacks, analysts expect that Mastercraft Boat will report full-year sales of $471.02 million for the current fiscal year, with estimates ranging from $466.50 million to $474.01 million. For the next financial year, analysts forecast that the business will report sales of $534.70 million, with estimates ranging from $515.58 million to $545.29 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Mastercraft Boat.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.13. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The company had revenue of $128.40 million during the quarter, compared to the consensus estimate of $122.72 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year.

Several equities research analysts recently weighed in on MCFT shares. BidaskClub raised shares of Mastercraft Boat from a “strong sell” rating to a “sell” rating in a report on Saturday, January 19th. ValuEngine raised shares of Mastercraft Boat from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Zacks Investment Research raised shares of Mastercraft Boat from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.83.

Institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC bought a new stake in Mastercraft Boat during the first quarter worth approximately $25,000. Macquarie Group Ltd. bought a new position in shares of Mastercraft Boat in the first quarter worth $35,000. New York State Teachers Retirement System bought a new position in shares of Mastercraft Boat in the first quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Mastercraft Boat by 106.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,017 shares of the company’s stock worth $46,000 after acquiring an additional 1,041 shares during the period. Finally, Great West Life Assurance Co. Can bought a new position in shares of Mastercraft Boat in the fourth quarter worth $62,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Shares of MCFT traded down $0.98 during midday trading on Tuesday, hitting $24.08. 17,343 shares of the stock traded hands, compared to its average volume of 142,306. Mastercraft Boat has a 1-year low of $17.60 and a 1-year high of $39.50. The company has a market cap of $457.25 million, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.60 and a beta of 1.68. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.38 and a current ratio of 0.79.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

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