$249.33 Million in Sales Expected for MarineMax, Inc. (HZO) This Quarter
Brokerages predict that MarineMax, Inc. (NYSE:HZO) will post $249.33 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for MarineMax’s earnings, with the highest sales estimate coming in at $258.50 million and the lowest estimate coming in at $238.72 million. MarineMax reported sales of $227.36 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The business is expected to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that MarineMax will report full-year sales of $249.33 million for the current year, with estimates ranging from $1.04 billion to $1.06 billion. For the next fiscal year, analysts expect that the business will post sales of $1.15 billion per share, with estimates ranging from $1.13 billion to $1.19 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow MarineMax.
MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by $0.11. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The firm had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year.
A number of research analysts have recently weighed in on the company. TheStreet cut MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. BidaskClub cut MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Friday, July 21st. Zacks Investment Research cut MarineMax from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $25.00 price objective (down from $26.00) on shares of MarineMax in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.33.
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Shares of MarineMax (NYSE HZO) traded down 0.65% during midday trading on Friday, hitting $15.40. 312,901 shares of the stock were exchanged. The firm’s 50 day moving average price is $17.69 and its 200-day moving average price is $19.86. The stock has a market cap of $373.85 million, a P/E ratio of 15.40 and a beta of 1.00. MarineMax has a 52-week low of $13.80 and a 52-week high of $23.65.
MarineMax announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 2nd that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of MarineMax by 3,099.0% in the fourth quarter. Macquarie Group Ltd. now owns 568,183 shares of the specialty retailer’s stock valued at $10,994,000 after buying an additional 550,422 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of MarineMax by 14.1% in the first quarter. Eagle Asset Management Inc. now owns 3,184,400 shares of the specialty retailer’s stock valued at $68,942,000 after buying an additional 392,654 shares during the period. Thomson Horstmann & Bryant Inc. purchased a new stake in shares of MarineMax during the second quarter valued at about $6,165,000. 1060 Capital LLC purchased a new stake in shares of MarineMax during the first quarter valued at about $3,580,000. Finally, American Century Companies Inc. boosted its stake in shares of MarineMax by 21.4% in the second quarter. American Century Companies Inc. now owns 796,961 shares of the specialty retailer’s stock valued at $15,581,000 after buying an additional 140,288 shares during the period. 91.57% of the stock is currently owned by institutional investors and hedge funds.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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