FY2017 EPS Estimates for West Marine Inc. Increased by Forward View (WMAR)
West Marine Inc. (NASDAQ:WMAR) – Stock analysts at Forward View upped their FY2017 earnings per share (EPS) estimates for shares of West Marine in a research report issued to clients and investors on Sunday. Forward View analyst N. Yates now forecasts that the firm will post earnings per share of $0.28 for the year, up from their prior estimate of $0.27. Forward View has a “Hold” rating on the stock.
A number of other research firms also recently commented on WMAR. B. Riley reaffirmed a “neutral” rating and set a $10.00 price objective on shares of West Marine in a research note on Tuesday, September 13th. Zacks Investment Research downgraded shares of West Marine from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. Finally, Sidoti downgraded shares of West Marine from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $9.30 to $9.00 in a research note on Thursday, September 8th.
West Marine (NASDAQ:WMAR) opened at 8.99 on Wednesday. The company has a 50-day moving average price of $9.35 and a 200 day moving average price of $9.14. The stock has a market cap of $224.20 million, a P/E ratio of 35.53 and a beta of 1.45. West Marine has a 1-year low of $7.70 and a 1-year high of $10.39.
West Marine (NASDAQ:WMAR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by $0.06. West Marine had a net margin of 0.89% and a return on equity of 2.08%. The firm earned $251.60 million during the quarter, compared to analysts’ expectations of $254.39 million. During the same quarter in the previous year, the company posted $0.85 EPS. West Marine’s revenue for the quarter was down .6% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of WMAR. California State Teachers Retirement System increased its stake in West Marine by 1.4% in the second quarter. California State Teachers Retirement System now owns 38,647 shares of the company’s stock worth $324,000 after buying an additional 524 shares during the period. Parametric Portfolio Associates LLC increased its stake in West Marine by 1.6% in the second quarter. Parametric Portfolio Associates LLC now owns 45,486 shares of the company’s stock worth $382,000 after buying an additional 709 shares during the period. Nationwide Fund Advisors increased its stake in West Marine by 2.8% in the second quarter. Nationwide Fund Advisors now owns 41,086 shares of the company’s stock worth $345,000 after buying an additional 1,100 shares during the period. Bank of New York Mellon Corp increased its stake in West Marine by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 118,295 shares of the company’s stock worth $993,000 after buying an additional 1,654 shares during the period. Finally, Teachers Advisors Inc. increased its stake in West Marine by 7.3% in the second quarter. Teachers Advisors Inc. now owns 27,131 shares of the company’s stock worth $228,000 after buying an additional 1,856 shares during the period. 61.26% of the stock is owned by hedge funds and other institutional investors.
West Marine Company Profile
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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