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

MarineMax (NYSE:HZO) issued its quarterly earnings data on Thursday. The specialty retailer reported $0.18 earnings per share 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 business had revenue of $582.90 million during the quarter, compared to analyst estimates of $590.19 million. During the same quarter last year, the firm earned $1.23 EPS. MarineMax’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 Stock Down 0.4 %

HZO traded down $0.10 during trading on Friday, hitting $25.50. 177,517 shares of the company’s stock were exchanged, compared to its average volume of 328,776. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $42.88. The stock has a market cap of $568.65 million, a P/E ratio of 6.27 and a beta of 1.69. The business’s 50 day moving average is $30.32 and its two-hundred day moving average is $31.48. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 0.41.

Insider Activity

In other MarineMax news, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MarineMax news, EVP Charles A. Cashman sold 7,500 shares of the 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 owns 63,981 shares in the company, valued at approximately $1,904,074.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the transaction, the director now directly owns 20,544 shares of the company’s stock, valued at $639,329.28. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HZO shares. DA Davidson reiterated a “buy” rating and set a $34.00 price objective on shares of MarineMax in a research note on Friday, March 15th. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Saturday, January 27th. Truist Financial dropped their target price on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stifel Nicolaus lowered their price objective on MarineMax from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, MarineMax has a consensus rating of “Moderate Buy” and an average target price of $35.40.

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.