Q3 2019 EPS Estimates for Malibu Boats Inc (MBUU) Decreased by Analyst

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Malibu Boats Inc (NASDAQ:MBUU) – Research analysts at B. Riley cut their Q3 2019 earnings per share (EPS) estimates for Malibu Boats in a research note issued on Thursday, February 7th. B. Riley analyst E. Wold now expects that the company will post earnings of $1.01 per share for the quarter, down from their previous forecast of $1.04. B. Riley has a “Buy” rating on the stock. B. Riley also issued estimates for Malibu Boats’ Q4 2019 earnings at $0.93 EPS, Q1 2020 earnings at $0.73 EPS, Q2 2020 earnings at $0.91 EPS, Q3 2020 earnings at $1.07 EPS and Q4 2020 earnings at $1.00 EPS.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Wednesday, February 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Malibu Boats had a return on equity of 45.92% and a net margin of 9.44%. The business had revenue of $165.80 million during the quarter, compared to the consensus estimate of $149.82 million. During the same period last year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 44.9% on a year-over-year basis.

A number of other analysts also recently issued reports on the company. BidaskClub raised Malibu Boats from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded Malibu Boats from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. ValuEngine raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Wells Fargo & Co cut their target price on Malibu Boats from $58.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, December 18th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $53.86.

Shares of MBUU opened at $44.66 on Monday. Malibu Boats has a 52-week low of $31.66 and a 52-week high of $59.57. The firm has a market capitalization of $926.19 million, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.87 and a beta of 1.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 0.61.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Malibu Boats by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 154,158 shares of the company’s stock valued at $6,465,000 after acquiring an additional 12,369 shares during the period. First Hawaiian Bank purchased a new position in Malibu Boats during the 3rd quarter valued at about $235,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Malibu Boats during the 3rd quarter valued at about $197,000. Engineers Gate Manager LP boosted its holdings in Malibu Boats by 171.2% during the 3rd quarter. Engineers Gate Manager LP now owns 40,446 shares of the company’s stock valued at $2,213,000 after acquiring an additional 25,535 shares during the period. Finally, Smith Asset Management Group LP boosted its holdings in Malibu Boats by 4.5% during the 3rd quarter. Smith Asset Management Group LP now owns 72,230 shares of the company’s stock valued at $3,952,000 after acquiring an additional 3,080 shares during the period. 95.42% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Wayne R. Wilson sold 10,466 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $48.36, for a total transaction of $506,135.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Deborah S. Kent sold 1,200 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $45.06, for a total value of $54,072.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,702 shares of company stock valued at $1,112,058 over the last three months. Corporate insiders own 3.35% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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

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