MCBC (MCFT) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

MCBC (NASDAQ:MCFT) released its earnings results on Thursday. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03, Briefing.com reports. MCBC had a return on equity of 108.42% and a net margin of 11.92%. The business had revenue of $93.60 million during the quarter, compared to analysts’ expectations of $90.93 million. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue was up 44.0% on a year-over-year basis.

MCBC stock traded down $5.95 during mid-day trading on Friday, reaching $27.66. The stock had a trading volume of 1,278,500 shares, compared to its average volume of 180,893. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.33 and a current ratio of 0.73. MCBC has a fifty-two week low of $20.13 and a fifty-two week high of $39.50. The stock has a market capitalization of $612.54 million, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.83 and a beta of 1.31.

A number of institutional investors have recently made changes to their positions in MCFT. Assenagon Asset Management S.A. acquired a new stake in MCBC in the third quarter valued at approximately $10,674,000. Millennium Management LLC grew its stake in MCBC by 186.9% in the first quarter. Millennium Management LLC now owns 393,045 shares of the company’s stock valued at $9,905,000 after acquiring an additional 256,038 shares during the period. Dimensional Fund Advisors LP grew its stake in MCBC by 212.7% in the first quarter. Dimensional Fund Advisors LP now owns 297,377 shares of the company’s stock valued at $7,494,000 after acquiring an additional 202,284 shares during the period. Renaissance Technologies LLC grew its stake in MCBC by 14.7% in the second quarter. Renaissance Technologies LLC now owns 1,463,800 shares of the company’s stock valued at $42,377,000 after acquiring an additional 187,200 shares during the period. Finally, Wells Fargo & Company MN grew its stake in MCBC by 42.9% in the second quarter. Wells Fargo & Company MN now owns 598,381 shares of the company’s stock valued at $17,324,000 after acquiring an additional 179,691 shares during the period. 95.01% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. BidaskClub cut MCBC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Robert W. Baird raised their target price on MCBC from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 target price on shares of MCBC in a research note on Friday, July 20th. Zacks Investment Research cut MCBC from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, B. Riley raised their target price on MCBC from $28.00 to $36.50 and gave the stock a “buy” rating in a research note on Friday, September 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. MCBC currently has a consensus rating of “Buy” and a consensus target price of $40.33.

TRADEMARK VIOLATION WARNING: This piece of content was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2018/11/09/mcbc-mcft-issues-quarterly-earnings-results-beats-expectations-by-0-03-eps.html.

MCBC Company Profile

MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets sport boats and outboard boats in North America and internationally. The company's boats are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating. It also provides various accessories, such as trailers and aftermarket parts.

See Also: How is Preferred Stock Different from Common Stock?

Earnings History for MCBC (NASDAQ:MCFT)

Receive News & Ratings for MCBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCBC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply