West Marine Inc. (NASDAQ:WMAR) – Stock analysts at Forward View dropped their Q3 2016 earnings per share (EPS) estimates for shares of West Marine in a research note issued on Sunday. Forward View analyst N. Yates now expects that the brokerage will post earnings per share of $0.17 for the quarter, down from their previous forecast of $0.18. Forward View currently has a “Hold” rating on the stock. Forward View also issued estimates for West Marine’s FY2016 earnings at $0.22 EPS.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised West Marine from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Sidoti downgraded West Marine from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $9.30 to $9.00 in a report on Thursday, September 8th. Finally, B. Riley downgraded West Marine to a “neutral” rating and set a $10.00 price objective for the company. in a report on Sunday, June 26th.

Shares of West Marine (NASDAQ:WMAR) opened at 8.99 on Tuesday. The stock has a market cap of $224.20 million, a price-to-earnings ratio of 35.53 and a beta of 1.45. West Marine has a 12-month low of $7.70 and a 12-month high of $10.39. The stock’s 50 day moving average is $9.35 and its 200-day moving average is $9.14.

West Marine (NASDAQ:WMAR) last released its earnings results on Thursday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.06. West Marine had a return on equity of 2.08% and a net margin of 0.89%. The business had revenue of $251.60 million for the quarter, compared to analysts’ expectations of $254.39 million. During the same period in the previous year, the company earned $0.85 EPS. West Marine’s quarterly revenue was down .6% compared to the same quarter last year.

Several large investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new stake in shares of West Marine during the second quarter valued at $492,000. Punch & Associates Investment Management Inc. increased its stake in shares of West Marine by 16.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 340,400 shares of the company’s stock valued at $2,856,000 after buying an additional 49,300 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of West Marine by 6.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 777,596 shares of the company’s stock valued at $7,068,000 after buying an additional 44,775 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of West Marine by 36.6% in the first quarter. Renaissance Technologies LLC now owns 132,526 shares of the company’s stock valued at $1,205,000 after buying an additional 35,526 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of West Marine by 91.3% in the second quarter. GSA Capital Partners LLP now owns 74,376 shares of the company’s stock valued at $624,000 after buying an additional 35,496 shares in the last quarter. 61.26% of the stock is owned by hedge funds and other institutional investors.

About West Marine

West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.

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