MarineMax (NYSE:HZO) Announces Earnings Results

MarineMax (NYSE:HZO) released its earnings results on Thursday. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55), Briefing.com reports. The business had revenue of $582.90 million for the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. MarineMax updated its FY 2024 guidance to 2.200-3.200 EPS and its FY24 guidance to $2.20-3.20 EPS.

MarineMax Stock Performance

NYSE:HZO opened at $25.38 on Friday. The firm’s 50-day moving average is $30.20 and its 200-day moving average is $31.44. MarineMax has a 52-week low of $22.51 and a 52-week high of $42.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.35 and a current ratio of 1.24. The company has a market cap of $565.97 million, a price-to-earnings ratio of 9.20 and a beta of 1.69.

Insider Transactions at MarineMax

In other news, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the transaction, the executive vice president now owns 63,981 shares in the company, valued at approximately $1,904,074.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MarineMax 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 transaction of $124,480.00. Following the sale, the director now directly owns 20,544 shares of the company’s stock, valued at $639,329.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was 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 in the company, valued at $1,904,074.56. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

HZO has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on MarineMax from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. DA Davidson reissued a “buy” rating and issued a $34.00 price target on shares of MarineMax in a research note on Friday, March 15th. Finally, Truist Financial reduced their price objective on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, MarineMax presently has a consensus rating of “Moderate Buy” and a consensus price target 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.