Q3 2017 Earnings Forecast for West Marine Inc. (WMAR) Issued By B. Riley
West Marine Inc. (NASDAQ:WMAR) – B. Riley raised their Q3 2017 earnings per share (EPS) estimates for shares of West Marine in a research note issued on Tuesday. B. Riley analyst J. Baker now anticipates that the firm will post earnings of $0.19 per share for the quarter, up from their previous estimate of $0.18. B. Riley has a “Buy” rating and a $10.00 price objective on the stock.
Several other equities analysts have also commented on the stock. Zacks Investment Research raised shares of West Marine from a “sell” rating to a “hold” rating in a research report on Tuesday. Sidoti lowered shares of West Marine from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $9.30 to $9.00 in a research report on Thursday, September 8th. Finally, Forward View reaffirmed a “hold” rating on shares of West Marine in a research report on Friday, July 22nd.
Shares of West Marine (NASDAQ:WMAR) traded down 0.96% during midday trading on Thursday, reaching $8.25. 25,432 shares of the company traded hands. West Marine has a 12 month low of $7.70 and a 12 month high of $10.39. The firm has a market capitalization of $205.75 million, a P/E ratio of 32.61 and a beta of 1.38. The company has a 50 day moving average of $9.07 and a 200 day moving average of $9.11.
West Marine (NASDAQ:WMAR) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The firm had revenue of $251.60 million for the quarter, compared to analysts’ expectations of $254.39 million. West Marine had a return on equity of 2.08% and a net margin of 0.89%. West Marine’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share.
Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new stake in West Marine during the second quarter valued at about $126,000. BlackRock Advisors LLC raised its stake in West Marine by 21.8% in the second quarter. BlackRock Advisors LLC now owns 14,966 shares of the company’s stock valued at $126,000 after buying an additional 2,680 shares during the last quarter. Brighton Jones LLC raised its stake in West Marine by 30.3% in the second quarter. Brighton Jones LLC now owns 21,953 shares of the company’s stock valued at $184,000 after buying an additional 5,107 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in West Marine by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 23,200 shares of the company’s stock valued at $211,000 after buying an additional 10,600 shares during the last quarter. Finally, BlackRock Inc. raised its stake in West Marine by 3,732.1% in the second quarter. BlackRock Inc. now owns 26,135 shares of the company’s stock valued at $219,000 after buying an additional 25,453 shares during the last quarter. 61.26% of the stock is owned by institutional investors.
About West Marine
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
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