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

Key Points

• MarineMax reported a quarterly loss of $0.08 per share, missing analysts’ $0.04 EPS estimate by $0.12. Revenue was $520.14 million, below the $541.32 million consensus and down 5.8% year over year.
• The stock rose 0.2% to $52.77 in midday trading despite the earnings miss.
• Analyst sentiment is broadly cautious: the consensus rating is Hold, with an average price target of $44.67; several firms recently downgraded the shares to Hold or Neutral.

MarineMax (NYSE:HZO - Get Free Report) posted its quarterly earnings results on Wednesday. The specialty retailer reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12), reports. The business had revenue of $520.14 million during the quarter, compared to the consensus estimate of $541.32 million. MarineMax had a net margin of 0.18% and a return on equity of 1.51%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS.

MarineMax Stock Up 0.2%

NYSE:HZO traded up $0.12 during midday trading on Wednesday, hitting $52.77. 982,083 shares of the company were exchanged, compared to its average volume of 521,828. MarineMax has a fifty-two week low of $21.42 and a fifty-two week high of $52.89. The company has a current ratio of 1.23, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1.17 billion, a PE ratio of 376.96 and a beta of 1.72. The company has a fifty day simple moving average of $52.37 and a 200 day simple moving average of $37.60.

Analysts Set New Price Targets

A number of research firms recently commented on HZO. Truist Financial cut shares of MarineMax from a "buy" rating to a "hold" rating and lifted their target price for the stock from $39.00 to $53.00 in a research note on Wednesday, August 12th. Northcoast Research lowered MarineMax from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 12th. Citigroup lowered MarineMax from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $41.00 to $53.00 in a research note on Friday, October 2nd. Weiss Ratings raised shares of MarineMax from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, Benchmark downgraded MarineMax from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Eight investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.67.

MarineMax Company Profile

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.

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