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

MarineMax (NYSE:HZO) announced its earnings results 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 net margin of 2.56% and a return on equity of 7.66%. The firm had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. During the same period in the prior year, the business earned $1.23 EPS. The company’s quarterly revenue 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 0.9 %

MarineMax stock traded down $0.23 during mid-day trading on Friday, hitting $25.37. The company’s stock had a trading volume of 455,253 shares, compared to its average volume of 402,171. The firm’s 50 day moving average is $30.20 and its 200 day moving average is $31.43. The company has a market cap of $565.75 million, a PE ratio of 9.19 and a beta of 1.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.35. MarineMax has a 52-week low of $22.51 and a 52-week high of $42.88.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Clint Moore sold 4,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total value 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 63,981 shares of the company’s stock, valued at approximately $1,904,074.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clint Moore sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the sale, 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. Company insiders own 4.00% of the company’s stock.

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.