MarineMax (NYSE:HZO) Announces Earnings Results, Misses Estimates By $0.55 EPS

MarineMax (NYSE:HZO) announced its quarterly earnings data on Thursday. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.55), Briefing.com reports. MarineMax had a net margin of 3.75% and a return on equity of 10.44%. The business had revenue of $582.90 million for the quarter, compared to analysts’ expectations of $590.19 million. During the same period in the prior year, the company posted $1.23 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. 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 %

Shares of HZO stock traded down $0.02 during trading hours on Friday, hitting $25.58. The company had a trading volume of 254,081 shares, compared to its average volume of 329,772. MarineMax has a fifty-two week low of $22.51 and a fifty-two week 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’s fifty day moving average is $30.32 and its 200 day moving average is $31.48. The stock has a market capitalization of $570.43 million, a PE ratio of 6.31 and a beta of 1.69.

Insider Activity at MarineMax

In other news, Director Clint Moore sold 4,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the transaction, the director now directly owns 20,544 shares in the company, valued at $639,329.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other MarineMax news, Director Clint Moore sold 4,000 shares of the stock in a transaction that occurred 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 directly owns 20,544 shares in the company, valued at approximately $639,329.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the business’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 approximately $1,904,074.56. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Analysts Set New Price Targets

HZO has been the subject of several analyst reports. Truist Financial dropped their target price on MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday. StockNews.com downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Stifel Nicolaus reduced their price target on shares of MarineMax from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday. Finally, DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of MarineMax in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.40.

MarineMax Company Profile

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.