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

MarineMax (NYSE:HZO) announced its quarterly earnings results on Thursday. The specialty retailer reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55), Briefing.com reports. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The business had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $590.19 million. During the same period in the previous year, the business earned $1.23 EPS. The business’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 Price Performance

HZO opened at $25.38 on Friday. The stock has a 50-day moving average price of $30.20 and a 200-day moving average price of $31.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.35. The firm has a market cap of $565.97 million, a PE ratio of 9.20 and a beta of 1.69. MarineMax has a 1 year low of $22.51 and a 1 year high of $42.88.

Analyst Ratings Changes

A number of analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $34.00 price target on shares of MarineMax in a research note on Friday, March 15th. StockNews.com lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Truist Financial lowered their price objective on MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. Finally, Stifel Nicolaus lowered their price objective on MarineMax from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.

Insider Transactions at MarineMax

In other news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of 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 SEC, which is available through the SEC website. 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 transaction of $124,480.00. Following the completion of the sale, 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 through the SEC website. Also, EVP Charles A. Cashman sold 7,500 shares of the company’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 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. 4.00% of the stock is owned by insiders.

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.