Malibu Boats (NASDAQ:MBUU) Announces Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Malibu Boats (NASDAQ:MBUU) announced its quarterly earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16, Briefing.com reports. Malibu Boats had a positive return on equity of 2.33% and a negative net margin of 10.90%. The firm had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same period in the prior year, the business posted $1.07 earnings per share. The business’s revenue was down 32.9% compared to the same quarter last year.

Malibu Boats Stock Performance

Shares of MBUU opened at $43.93 on Friday. The business’s fifty day moving average price is $39.14 and its two-hundred day moving average price is $36.67. The firm has a market capitalization of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $56.03.

Analyst Ratings Changes

MBUU has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Friday. B. Riley cut their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Benchmark restated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Friday. Finally, KeyCorp lifted their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Malibu Boats currently has a consensus rating of “Hold” and a consensus price target of $44.57.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.