Zacks: Analysts Expect MCBC Holdings, Inc. (MCFT) Will Post Quarterly Sales of $62.88 Million
Wall Street brokerages forecast that MCBC Holdings, Inc. (NASDAQ:MCFT) will report sales of $62.88 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for MCBC Holdings’ earnings. The highest sales estimate is $63.18 million and the lowest is $62.50 million. MCBC Holdings posted sales of $60.69 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The business is expected to issue its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that MCBC Holdings will report full-year sales of $62.88 million for the current year, with estimates ranging from $243.40 million to $246.66 million. For the next financial year, analysts expect that the firm will post sales of $260.04 million per share, with estimates ranging from $256.78 million to $263.72 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow MCBC Holdings.
MCBC Holdings (NASDAQ:MCFT) last released its earnings results on Thursday, September 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. MCBC Holdings had a return on equity of 443.78% and a net margin of 8.56%. The business had revenue of $58.30 million during the quarter, compared to the consensus estimate of $56.89 million. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year.
A number of equities analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $24.00 price target (up from $21.50) on shares of MCBC Holdings in a report on Tuesday, October 3rd. Aegis assumed coverage on MCBC Holdings in a report on Monday, October 2nd. They set a “buy” rating and a $26.00 price target for the company. Zacks Investment Research cut MCBC Holdings from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. BidaskClub cut MCBC Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, TheStreet upgraded MCBC Holdings from a “d+” rating to a “b-” rating in a report on Thursday, September 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.00.
Shares of MCBC Holdings (MCFT) opened at 22.38 on Wednesday. MCBC Holdings has a 52-week low of $10.84 and a 52-week high of $22.78. The company has a market capitalization of $417.10 million, a P/E ratio of 21.31 and a beta of 1.23. The stock’s 50 day moving average price is $20.22 and its 200 day moving average price is $20.22.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in MCBC Holdings by 1.8% during the 1st quarter. Wellington Management Group LLP now owns 2,497,598 shares of the company’s stock worth $40,386,000 after acquiring an additional 44,287 shares in the last quarter. Vanguard Group Inc. lifted its stake in MCBC Holdings by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,064,876 shares of the company’s stock worth $20,818,000 after acquiring an additional 123,082 shares in the last quarter. Renaissance Technologies LLC lifted its stake in MCBC Holdings by 32.6% during the 2nd quarter. Renaissance Technologies LLC now owns 772,900 shares of the company’s stock worth $15,110,000 after acquiring an additional 189,900 shares in the last quarter. Divisar Capital Management LLC lifted its stake in MCBC Holdings by 18.3% during the 2nd quarter. Divisar Capital Management LLC now owns 705,100 shares of the company’s stock worth $13,785,000 after acquiring an additional 108,912 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new position in MCBC Holdings during the 2nd quarter worth about $8,167,000. 95.46% of the stock is currently owned by hedge funds and other institutional investors.
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About MCBC Holdings
MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.
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