MarineMax (NYSE:HZO) Issues Earnings Results, Misses Expectations By $0.55 EPS

MarineMax (NYSE:HZO) issued its earnings results on Thursday. The specialty retailer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.55), Briefing.com reports. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The company had revenue of $582.90 million during the quarter, compared to the consensus estimate of $590.19 million. During the same quarter in the prior year, the business earned $1.23 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. MarineMax updated its FY 2024 guidance to 2.200-3.200 EPS and its FY24 guidance to $2.20-3.20 EPS.

MarineMax Trading Down 0.1 %

NYSE:HZO traded down $0.02 during mid-day trading on Friday, reaching $25.58. 254,081 shares of the company’s stock traded hands, compared to its average volume of 329,772. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.35. The company has a 50 day moving average price of $30.32 and a 200-day moving average price of $31.48. The firm has a market capitalization of $570.43 million, a price-to-earnings ratio of 6.31 and a beta of 1.69.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. DA Davidson restated a “buy” rating and set a $34.00 target price on shares of MarineMax in a research report on Friday, March 15th. Truist Financial lowered their price target on MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stifel Nicolaus cut their price objective on MarineMax from $37.00 to $35.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MarineMax has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Buying and Selling

In other MarineMax news, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the sale, the executive vice president now directly owns 63,981 shares in the company, valued at $1,904,074.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MarineMax news, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total transaction of $223,200.00. Following the completion of the transaction, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the sale, the director now owns 20,544 shares in the company, valued at approximately $639,329.28. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.