MarineMax (NYSE:HZO) Updates FY24 Earnings Guidance

MarineMax (NYSE:HZO - Get Free Report) 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 5.8 %

Shares of HZO stock traded down $1.58 during mid-day trading on Thursday, reaching $25.60. The company's stock had a trading volume of 1,509,046 shares, compared to its average volume of 331,022. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $570.88 million, a PE ratio of 5.61 and a beta of 1.69. The company's 50 day simple moving average is $30.45 and its 200-day simple moving average is $31.52. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88.

MarineMax (NYSE:HZO - Get Free Report) last announced its earnings results on Thursday, January 25th. The specialty retailer reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). MarineMax had a net margin of 3.75% and a return on equity of 10.44%. The firm had revenue of $527.30 million during the quarter, compared to analysts' expectations of $524.76 million. During the same quarter last year, the company posted $1.24 earnings per share. MarineMax's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that MarineMax will post 3.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. DA Davidson restated a buy rating and set a $34.00 price objective on shares of MarineMax in a research note on Friday, March 15th. StockNews.com downgraded MarineMax from a hold rating to a sell rating in a research note on Saturday, January 27th. Finally, Truist Financial upped their price objective on MarineMax from $40.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, January 9th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $39.00.

Insider Activity

In related news, Director Clint Moore sold 4,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the sale, the director now owns 20,544 shares in the company, valued at $639,329.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Clint Moore sold 4,000 shares of the company's stock in a transaction on Monday, March 11th. The stock was 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 directly owns 20,544 shares in the company, valued at approximately $639,329.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the sale, the executive vice president now directly owns 63,981 shares in the company, valued at $1,904,074.56. The disclosure for this sale can be found here. Company 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.