MarineMax (NYSE:HZO) Releases Quarterly Earnings Results, Misses Expectations By $0.55 EPS

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 net margin of 3.75% and a return on equity of 10.44%. The company had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. MarineMax updated its FY 2024 guidance to 2.200-3.200 EPS and its FY24 guidance to $2.20-3.20 EPS.

MarineMax Trading Down 0.4 %

Shares of HZO stock traded down $0.10 during trading hours on Friday, reaching $25.50. 177,517 shares of the stock were exchanged, compared to its average volume of 328,776. The firm has a market capitalization of $568.65 million, a price-to-earnings ratio of 6.27 and a beta of 1.69. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88. The company’s 50-day moving average price is $30.32 and its 200-day moving average price is $31.48. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 0.41.

Wall Street Analysts Forecast Growth

Several research firms have commented on HZO. StockNews.com downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. Stifel Nicolaus cut their target price on shares of MarineMax from $37.00 to $35.00 and set a “buy” rating for the company in a report on Friday. Truist Financial reduced their target price on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Finally, DA Davidson reiterated a “buy” rating and issued a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. One 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. According to data from MarketBeat, MarineMax currently has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Activity

In other news, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the transaction, the director now directly 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 at the SEC website. In other MarineMax news, Director Clint Moore sold 4,000 shares of the firm’s 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 transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles A. Cashman sold 7,500 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the sale, the executive vice president now directly 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. 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.