MarineMax (NYSE:HZO) Announces Quarterly Earnings Results

MarineMax (NYSE:HZO) released its quarterly earnings data on Thursday. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $1.23 EPS. The company’s revenue 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 0.2 %

HZO stock traded down $0.06 during midday trading on Friday, hitting $25.54. 263,508 shares of the company’s stock were exchanged, compared to its average volume of 330,022. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 0.41. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88. The firm has a 50 day moving average price of $30.32 and a 200-day moving average price of $31.48. The stock has a market capitalization of $569.54 million, a price-to-earnings ratio of 6.31 and a beta of 1.69.

Insider Activity

In other news, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction that occurred 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 approximately $1,904,074.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MarineMax news, Director Clint Moore sold 4,000 shares of the business’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 owns 20,544 shares in the company, valued at approximately $639,329.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value 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. Company insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Truist Financial dropped their price target on MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. Stifel Nicolaus decreased their price target on MarineMax from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $34.00 price objective on shares of MarineMax in a research note on Friday, March 15th. One equities research 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’s stock. Based on data from MarketBeat, MarineMax presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

MarineMax Company Profile

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.