Q2 2018 Earnings Estimate for MarineMax, Inc. Issued By Forward View (HZO)
MarineMax, Inc. (NYSE:HZO) – Research analysts at Forward View cut their Q2 2018 earnings per share estimates for shares of MarineMax in a research note issued on Saturday. Forward View analyst N. Yates now expects that the specialty retailer will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.16. Forward View currently has a “Hold” rating on the stock. Forward View also issued estimates for MarineMax’s Q3 2018 earnings at $0.77 EPS and FY2019 earnings at $1.24 EPS.
MarineMax (NYSE:HZO) last issued its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.11. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The company had revenue of $250.62 million during the quarter, compared to the consensus estimate of $231.96 million. During the same quarter last year, the company earned $0.18 earnings per share. MarineMax’s revenue for the quarter was up 10.2% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Q2 2018 Earnings Estimate for MarineMax, Inc. Issued By Forward View (HZO)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.watchlistnews.com/q2-2018-earnings-estimate-for-marinemax-inc-issued-by-forward-view-hzo/1688760.html.
Several other brokerages also recently issued reports on HZO. B. Riley set a $20.00 price objective on shares of MarineMax and gave the company a “buy” rating in a research report on Wednesday, November 1st. Citigroup Inc. increased their price objective on shares of MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Ifs Securities reaffirmed a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. Craig Hallum set a $21.00 price objective on shares of MarineMax and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, TheStreet downgraded shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $21.67.
Shares of MarineMax (NYSE:HZO) traded down $0.50 during trading hours on Tuesday, reaching $20.15. 277,219 shares of the company’s stock traded hands, compared to its average volume of 426,219. MarineMax has a one year low of $13.80 and a one year high of $23.65. The firm has a market capitalization of $499.63, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 0.60 and a beta of 0.99.
MarineMax announced that its board has initiated a share repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, Chairman William H. Mcgill, Jr. sold 35,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.03, for a total transaction of $736,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the transaction, the director now owns 15,193 shares in the company, valued at $227,895. The disclosure for this sale can be found here. Insiders have sold 55,500 shares of company stock worth $1,114,550 over the last 90 days. 5.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of HZO. American Century Companies Inc. lifted its stake in MarineMax by 51.7% in the third quarter. American Century Companies Inc. now owns 1,208,999 shares of the specialty retailer’s stock valued at $20,009,000 after buying an additional 412,038 shares during the last quarter. Thomson Horstmann & Bryant Inc. bought a new stake in MarineMax in the second quarter valued at $6,165,000. Kennedy Capital Management Inc. lifted its stake in MarineMax by 855.1% in the second quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock valued at $6,471,000 after buying an additional 296,343 shares during the last quarter. Impala Asset Management LLC lifted its stake in MarineMax by 18.6% in the second quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after buying an additional 282,017 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in MarineMax in the third quarter valued at $4,065,000. Institutional investors own 90.57% of the company’s stock.
MarineMax Company Profile
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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