MarineMax (NYSE:HZO) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

MarineMax (NYSE:HZO) released its earnings results on Wednesday. The specialty retailer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12), reports. MarineMax had a return on equity of 1.51% and a net margin of 0.18%. The company had revenue of $520.14 million during the quarter, compared to analyst estimates of $541.32 million. During the same period in the prior year, the business posted ($0.04) earnings per share. MarineMax’s revenue was down 5.8% on a year-over-year basis.

MarineMax Stock Up 0.0%

Shares of NYSE:HZO traded up $0.03 during mid-day trading on Thursday, hitting $52.73. 615,023 shares of the company traded hands, compared to its average volume of 525,527. The firm’s 50 day simple moving average is $52.38 and its 200 day simple moving average is $37.72. The firm has a market cap of $1.16 billion, a P/E ratio of 376.74 and a beta of 1.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 1.23. MarineMax has a 52-week low of $21.42 and a 52-week high of $52.89.

Analysts Set New Price Targets

HZO has been the topic of several research reports. Citigroup lowered MarineMax from a “buy” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $53.00 in a research report on Friday, October 2nd. B. Riley Financial downgraded MarineMax from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, July 21st. Northcoast Research lowered MarineMax from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Truist Financial downgraded MarineMax from a “buy” rating to a “hold” rating and raised their price objective for the stock from $39.00 to $53.00 in a report on Wednesday, August 12th. Finally, Loop Capital lowered MarineMax from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Tuesday, August 11th. Eight investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, MarineMax has a consensus rating of “Hold” and an average target price of $44.67.

About MarineMax

MarineMax, Inc is a recreational boat and yacht retailer based in Clearwater, Florida. The company sells new and pre-owned powerboats, sailboats, yachts and related marine products through a network of dealerships and brokerage operations.

In addition to boat sales, MarineMax provides maintenance, repair, storage, parts and other marina services. It also offers financing and insurance products through third-party relationships, as well as charter, yacht-management and boating-lifestyle services through its affiliated businesses.

MarineMax serves customers primarily in the United States, with operations concentrated in boating markets including Florida, the Northeast, the Midwest and other coastal and inland regions.