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

MarineMax (NYSE:HZO) issued its earnings results on Thursday. The specialty retailer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.55), Briefing.com reports. The firm had revenue of $582.90 million during the quarter, compared to analyst estimates of $590.19 million. MarineMax had a net margin of 3.75% and a return on equity of 10.44%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. 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

HZO stock traded down $0.06 during midday trading on Friday, reaching $25.54. 263,508 shares of the company’s stock traded hands, compared to its average volume of 330,022. The company has a 50-day moving average price of $30.32 and a two-hundred day moving average price of $31.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 1.28. MarineMax has a 52 week low of $22.51 and a 52 week high of $42.88. The firm has a market capitalization of $569.54 million, a PE ratio of 6.31 and a beta of 1.69.

Insider Buying and Selling at MarineMax

In other 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 transaction of $223,200.00. Following the completion of the transaction, the executive vice president now directly owns 63,981 shares in the company, valued at approximately $1,904,074.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, 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 SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president now directly owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HZO shares. Truist Financial cut their price target on MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Saturday, January 27th. DA Davidson reissued a “buy” rating and set a $34.00 target price on shares of MarineMax in a research report on Friday, March 15th. Finally, Stifel Nicolaus dropped their target price on shares of MarineMax from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday. 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 stock. According to data from MarketBeat, the stock has an average 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.