MarineMax (NYSE:HZO) Announces Quarterly Earnings Results

MarineMax (NYSE:HZO - Get Free Report) released its earnings results on Thursday. The specialty retailer reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.55), Briefing.com reports. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The business had revenue of $582.90 million during the quarter, compared to analysts' expectations of $590.19 million. During the same period last year, the business earned $1.23 earnings per share. The company's revenue for the quarter 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 %

Shares of NYSE:HZO traded down $0.22 during trading on Friday, hitting $25.38. The company's stock had a trading volume of 455,253 shares, compared to its average volume of 332,555. The business has a 50 day moving average price of $30.32 and a two-hundred day moving average price of $31.48. The company has a market capitalization of $565.97 million, a PE ratio of 6.31 and a beta of 1.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 1.28. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $42.88.

Insiders Place Their Bets

In related news, Director Clint Moore sold 4,000 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares in the company, valued at $639,329.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Clint Moore sold 4,000 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares in the company, valued at $639,329.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Charles A. Cashman sold 7,500 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 63,981 shares of the company's stock, 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial decreased their target price on shares of MarineMax from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday. Stifel Nicolaus reduced their price target on shares of MarineMax from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday. DA Davidson reaffirmed a "buy" rating and set a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. Finally, StockNews.com lowered shares of MarineMax from a "hold" rating to a "sell" rating in a research report on Saturday, January 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, MarineMax presently has an average rating of "Moderate Buy" and a consensus target price of $35.40.

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.