West Marine Inc. (NASDAQ:WMAR) – Investment analysts at Forward View decreased their Q3 2016 earnings per share (EPS) estimates for West Marine in a research report issued on Sunday. Forward View analyst N. Yates now anticipates that the firm will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.18. Forward View currently has a “Hold” rating on the stock. Forward View also issued estimates for West Marine’s FY2016 earnings at $0.22 EPS.

West Marine (NASDAQ:WMAR) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.06. The company had revenue of $251.60 million for the quarter, compared to the consensus estimate of $254.39 million. West Marine had a return on equity of 2.08% and a net margin of 0.89%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS.

Other research analysts have also issued reports about the company. B. Riley reiterated a “neutral” rating and set a $10.00 target price on shares of West Marine in a report on Tuesday, September 13th. Zacks Investment Research lowered West Marine from a “hold” rating to a “sell” rating in a report on Saturday, July 30th. Finally, Sidoti lowered West Marine from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.30 to $9.00 in a report on Thursday, September 8th.

Shares of West Marine (NASDAQ:WMAR) opened at 8.99 on Tuesday. West Marine has a 1-year low of $7.70 and a 1-year high of $10.39. The company has a market cap of $224.20 million, a P/E ratio of 35.53 and a beta of 1.45. The stock’s 50 day moving average price is $9.35 and its 200 day moving average price is $9.14.

Several hedge funds have recently added to or reduced their stakes in WMAR. Prudential Financial Inc. purchased a new stake in West Marine during the second quarter valued at about $126,000. BlackRock Advisors LLC increased its stake in West Marine by 21.8% in the second quarter. BlackRock Advisors LLC now owns 14,966 shares of the company’s stock valued at $126,000 after buying an additional 2,680 shares in the last quarter. Brighton Jones LLC increased its stake in West Marine by 30.3% in the second quarter. Brighton Jones LLC now owns 21,953 shares of the company’s stock valued at $184,000 after buying an additional 5,107 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in West Marine by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 23,200 shares of the company’s stock valued at $211,000 after buying an additional 10,600 shares in the last quarter. Finally, BlackRock Inc. increased its stake in West Marine by 3,732.1% in the second quarter. BlackRock Inc. now owns 26,135 shares of the company’s stock valued at $219,000 after buying an additional 25,453 shares in the last quarter. 61.26% of the stock is currently owned by hedge funds and other institutional investors.

About West Marine

West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.

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