MarineMax (NYSE:HZO) Updates FY24 Earnings Guidance

MarineMax (NYSE:HZO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.20-3.20 for the period, compared to the consensus estimate of $3.35. MarineMax also updated its FY 2024 guidance to 2.200-3.200 EPS.

MarineMax Trading Down 0.9 %

Shares of HZO stock traded down $0.22 during trading hours on Friday, reaching $25.38. 455,253 shares of the stock were exchanged, compared to its average volume of 332,555. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $30.32 and its 200-day moving average price is $31.48. The firm has a market capitalization of $565.97 million, a price-to-earnings ratio of 6.31 and a beta of 1.69.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The firm 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 firm posted $1.23 earnings per share. MarineMax’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that MarineMax will post 3.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial decreased their price objective on shares of MarineMax from $40.00 to $35.00 and set a buy rating for the company in a report on Friday. DA Davidson restated a buy rating and issued a $34.00 price target on shares of MarineMax in a report on Friday, March 15th. StockNews.com lowered shares of MarineMax from a hold rating to a sell rating in a report on Saturday, January 27th. Finally, Stifel Nicolaus reduced their price target on shares of MarineMax from $37.00 to $35.00 and set a buy rating for the company in a report on Friday. One research 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. Based on data from MarketBeat, MarineMax has a consensus rating of Moderate Buy and an average price target of $35.40.

Insider Transactions at MarineMax

In other news, Director Clint Moore sold 4,000 shares of MarineMax 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 transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Clint Moore sold 4,000 shares of MarineMax 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 transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 63,981 shares in the company, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

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.