MarineMax (NYSE:HZO) Updates FY24 Earnings Guidance

MarineMax (NYSE:HZO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.20-3.20 for the period, compared to the consensus estimate of $3.35. MarineMax also updated its FY 2024 guidance to 2.200-3.200 EPS.

Wall Street Analyst Weigh In

HZO has been the subject of several research analyst reports. DA Davidson reaffirmed a buy rating and set a $34.00 target price on shares of MarineMax in a research note on Friday, March 15th. StockNews.com downgraded shares of MarineMax from a hold rating to a sell rating in a report on Saturday, January 27th. Truist Financial cut their target price on shares of MarineMax from $40.00 to $35.00 and set a buy rating for the company in a research note on Friday. Finally, Stifel Nicolaus reduced their price target on shares of 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $35.40.

MarineMax Stock Down 0.9 %

Shares of NYSE:HZO opened at $25.37 on Friday. The company has a market capitalization of $565.75 million, a price-to-earnings ratio of 9.19 and a beta of 1.69. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88. The business has a 50-day moving average price of $30.20 and a 200 day moving average price of $31.43. The company has a current ratio of 1.24, a quick ratio of 0.35 and a debt-to-equity ratio of 0.40.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The company had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $590.19 million. During the same period last year, the firm posted $1.23 earnings per share. MarineMax’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that MarineMax will post 3.09 EPS for the current year.

Insider Activity at MarineMax

In other MarineMax news, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the transaction, the executive vice president now owns 63,981 shares in the company, valued at $1,904,074.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction dated 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 transaction, the executive vice president now 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 accessible through this link. Also, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 20,544 shares in the company, valued at $639,329.28. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company 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.