MarineMax (NYSE:HZO) Releases 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. DA Davidson reiterated a buy rating and set a $34.00 price target on shares of MarineMax in a report 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 decreased their target price on MarineMax from $40.00 to $35.00 and set a buy rating on the stock in a research note on Friday. Finally, Stifel Nicolaus decreased their target price on MarineMax from $37.00 to $35.00 and set a buy rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $35.40.

MarineMax Stock Down 0.9 %

HZO stock traded down $0.23 during mid-day trading on Friday, reaching $25.37. The company had a trading volume of 455,253 shares, compared to its average volume of 402,171. 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 capitalization of $565.75 million, a price-to-earnings ratio of 9.20 and a beta of 1.69. The firm has a fifty day simple moving average of $30.20 and a 200 day simple moving average of $31.44. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $42.88.

MarineMax (NYSE:HZO) last posted 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). The company had revenue of $582.90 million during the quarter, compared to analyst estimates of $590.19 million. MarineMax had a net margin of 2.56% and a return on equity of 7.66%. MarineMax’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. Analysts forecast that MarineMax will post 3.09 earnings per share for the current fiscal year.

Insider Buying and Selling at MarineMax

In other news, Director Clint Moore sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $639,329.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Clint Moore sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $639,329.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles A. Cashman sold 7,500 shares of the firm’s 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 sale, the executive vice president now directly owns 63,981 shares in the company, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate 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.