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On September 4, 2023, we delve into the latest stock analysis of Malibu Boats (NASDAQ:MBUU). Taking a closer look at the company’s recent earnings results which were released on August 29th, we find that Malibu Boats reported an impressive $2.98 earnings per share (EPS) for the quarter. This exceeded analysts’ consensus estimates of $2.26 by a significant margin of $0.72.
Furthermore, the company’s revenue for the quarter amounted to $372.30 million, surpassing analyst estimates which stood at $327.79 million. This represents a growth of 5.4% on a year-over-year basis, highlighting the positive trajectory of Malibu Boats’ financial performance.
Malibu Boats, Inc is primarily involved in designing, engineering, manufacturing, marketing, and selling various recreational powerboats. The company operates through three distinct segments which include Malibu, Saltwater Fishing, and Cobalt. Under these segments, it offers performance sport boats as well as sterndrive and outboard boats under different brand names such as Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt.
With such a diverse portfolio of offerings catering to a wide range of recreational boating enthusiasts, Malibu Boats has managed to establish itself as a prominent player in the industry.
In terms of profitability indicators attributed to its recent earnings report, Malibu Boats demonstrated a net margin of 12.40% and an impressive return on equity of 31.40%. These figures exemplify the efficiency and effectiveness with which the company utilizes its resources and generates profits.
Comparing this quarter’s performance with the same period in the previous year reveals notable growth for Malibu Boats. In the corresponding quarter last year, the company had posted an EPS of $2.35—showcasing substantial improvement in the most recent quarter.
Overall, Malibu Boats’ strong financial performance, surpassing analysts’ expectations, and consistent growth in revenue indicate the company’s ability to thrive in the competitive recreational powerboat industry. With its diverse product offerings and solid profitability metrics, Malibu Boats remains a significant player to watch in the market.
Disclaimer: The information provided in this article is based on the latest available data as of September 4, 2023. It is important to conduct further research and analysis before making any investment decisions.
Malibu Boats, Inc.
MBUU
Buy
Updated on: 04/09/2023
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Malibu Boats, Inc. Faces Decreased Q3 2024 Earnings Estimates Amidst Mixed Analyst Ratings
Malibu Boats, Inc. (NASDAQ:MBUU) has experienced a decrease in Q3 2024 earnings per share (EPS) estimates, according to analysts at B. Riley in a note sent to investors on August 30th. B. Riley analyst E. Wold now expects the company to post EPS of $1.78 for the quarter, down from their previous estimate of $2.03. The stock currently has a “Neutral” rating from B.Riley with a target price of $59.00.
This reduction in EPS estimates comes after several other research analysts have also expressed their opinions on MBUU. Truist Financial decreased their price target for Malibu Boats from $64.00 to $62.00 and maintained a “buy” rating for the company in a report on Wednesday. Raymond James also lowered their price target from $74.00 to $60.00 and issued an “outperform” rating for Malibu Boats in their research note that same day.
Additionally, Robert W. Baird reduced their target price from $72.00 to $68.00 while reiterating an “outperform” rating for the company, and StockNews.com downgraded Malibu Boats from a “buy” rating to a “hold” rating on August 25th.
Despite these mixed reviews, Bloomberg.com reports an average rating of “Moderate Buy” for Malibu Boats’ stock, with a consensus price target of $63.86.
Malibu Boats, Inc is primarily engaged in designing, engineering, manufacturing, marketing, and selling recreational powerboats across three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats as well as sterndrive and outboard boats under various brands such as Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder Hewes, and Cobalt.
As of Friday, September 4th, MBUU stock opened at $48.56. The stock has a 50-day simple moving average of $56.46 and a 200-day simple moving average of $56.64.
Malibu Boats’ shares have experienced volatility over the past year, with a 12-month low of $46.30 and a high of $65.45. The company currently has a market capitalization of $1.00 billion, a P/E ratio of 5.90, and a beta of 1.61.
Looking at the company’s financial health, Malibu Boats has a current ratio of 2.09 and a quick ratio of 0.83, indicating its ability to meet short-term obligations efficiently. Furthermore, the company maintains a low debt-to-equity ratio of 0.03, suggesting it is managing its debt obligations prudently.
In terms of institutional ownership, several hedge funds and other institutional investors have made recent changes to their holdings in Malibu Boats. Capital World Investors increased their holdings by 58.3% during the second quarter, owning approximately 1,649,000 shares worth $96,730,000 as last reported.
BlackRock Inc., one of the largest asset management firms globally, also raised its holdings in Malibu Boats by 1% during the first quarter to approximately 1,632,855 shares valued at $94,722,000.
Moreover, American Century Companies Inc., Vanguard Group Inc., and Dimensional Fund Advisors LP are among the other notable institutional shareholders who have adjusted their positions in recent quarters.
Currently, hedge funds and other institutional investors own approximately 91.35% of Malibu Boats’ stock.
Overall, while B.Riley’s lowered Q3 EPS estimates for Malibu Boats may raise concerns among some investors and analysts are divided in their ratings, the company continues to offer a range of recreational powerboats under various strong brands. Its financial health and support from notable institutional investors further provide a solid foundation for its business operations in the future.
