$243.49 Million in Sales Expected for Malibu Boats, Inc. (NASDAQ:MBUU) This Quarter

Wall Street brokerages predict that Malibu Boats, Inc. (NASDAQ:MBUU) will announce sales of $243.49 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Malibu Boats’ earnings, with estimates ranging from $236.40 million to $249.94 million. Malibu Boats reported sales of $180.98 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 34.5%. The business is expected to report its next quarterly earnings results on Friday, November 5th.

According to Zacks, analysts expect that Malibu Boats will report full year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.12 billion. For the next fiscal year, analysts expect that the company will post sales of $1.21 billion, with estimates ranging from $1.19 billion to $1.25 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Malibu Boats.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Wednesday, August 25th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. The company had revenue of $276.70 million during the quarter, compared to analyst estimates of $256.32 million. Malibu Boats had a net margin of 11.85% and a return on equity of 37.68%. The company’s revenue for the quarter was up 133.1% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS.

A number of equities research analysts have issued reports on the stock. Berenberg Bank reissued a “buy” rating and set a $86.00 target price on shares of Malibu Boats in a research note on Tuesday. Truist Securities decreased their target price on shares of Malibu Boats from $95.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, June 17th. Finally, Raymond James cut their price target on shares of Malibu Boats from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, August 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $87.63.

Shares of NASDAQ:MBUU traded down $1.96 during trading on Tuesday, reaching $67.81. 215,437 shares of the company traded hands, compared to its average volume of 200,532. The firm has a fifty day simple moving average of $76.72 and a 200 day simple moving average of $78.96. The firm has a market cap of $1.41 billion, a P/E ratio of 12.97 and a beta of 1.84. Malibu Boats has a 1-year low of $46.37 and a 1-year high of $93.00. The company has a quick ratio of 0.71, a current ratio of 1.58 and a debt-to-equity ratio of 0.36.

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of Malibu Boats by 43.8% during the 2nd quarter. Sei Investments Co. now owns 75,985 shares of the company’s stock valued at $5,563,000 after purchasing an additional 23,154 shares in the last quarter. US Bancorp DE raised its holdings in Malibu Boats by 35.9% in the 1st quarter. US Bancorp DE now owns 21,604 shares of the company’s stock worth $1,721,000 after acquiring an additional 5,710 shares during the period. Maryland Capital Management bought a new position in Malibu Boats in the 1st quarter worth $337,000. Polen Capital Management LLC raised its holdings in Malibu Boats by 24.3% in the 1st quarter. Polen Capital Management LLC now owns 89,901 shares of the company’s stock worth $7,163,000 after acquiring an additional 17,576 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Malibu Boats by 9.0% in the 1st quarter. Geode Capital Management LLC now owns 381,461 shares of the company’s stock worth $30,394,000 after acquiring an additional 31,585 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc is a holding company, which engages in the design, manufacture, and market of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands. It operates through the following segments: Malibu U.S., Malibu Australia, Cobalt, and Pursuit.

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Earnings History and Estimates for Malibu Boats (NASDAQ:MBUU)

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