MasterCraft Boat Holdings, Inc. (MCFT – Free Report) shares rallied 13.9% in the last trading session to close at $16.75. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 14.8% loss over the past four weeks.
Following President Trump’s announcement to suspend U.S. tariffs on most countries for 90 days, MasterCraft Boat shares soared, reflecting renewed investor optimism.
This sport boats maker is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of -51.4%. Revenues are expected to be $75.37 million, down 21.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For MasterCraft Boat Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MCFT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
MasterCraft Boat Holdings, Inc. is a member of the Zacks Leisure and Recreation Products industry. One other stock in the same industry, Malibu Boats (MBUU – Free Report) , finished the last trading session 12.6% higher at $28.35. MBUU has returned -19.6% over the past month.
For Malibu Boats
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