$0.21 Earnings Per Share Expected for MarineMax, Inc. (HZO) This Quarter
Brokerages expect MarineMax, Inc. (NYSE:HZO) to report earnings per share of $0.21 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for MarineMax’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.19. MarineMax posted earnings of $0.18 per share in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is expected to issue its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that MarineMax will report full-year earnings of $1.00 per share for the current year, with EPS estimates ranging from $0.98 to $1.02. For the next year, analysts expect that the firm will post earnings of $1.23 per share, with EPS estimates ranging from $1.10 to $1.30. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow MarineMax.
MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.11. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The business had revenue of $329.80 million for the quarter, compared to analysts’ expectations of $383.01 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. MarineMax’s revenue for the quarter was down 4.6% compared to the same quarter last year.
HZO has been the subject of a number of recent research reports. B. Riley restated a “buy” rating and issued a $20.00 price objective on shares of MarineMax in a report on Friday, July 21st. TheStreet downgraded MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. BidaskClub downgraded MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of MarineMax in a report on Monday, May 15th. Finally, Zacks Investment Research upgraded MarineMax from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.33.
A number of hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. boosted its stake in shares of MarineMax by 14.1% in the first quarter. Eagle Asset Management Inc. now owns 3,184,400 shares of the specialty retailer’s stock worth $68,942,000 after buying an additional 392,654 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MarineMax by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,197,121 shares of the specialty retailer’s stock worth $47,568,000 after buying an additional 19,177 shares during the period. Impala Asset Management LLC boosted its stake in shares of MarineMax by 0.3% in the first quarter. Impala Asset Management LLC now owns 1,513,742 shares of the specialty retailer’s stock worth $32,773,000 after buying an additional 3,788 shares during the period. Vanguard Group Inc. boosted its stake in shares of MarineMax by 7.8% in the first quarter. Vanguard Group Inc. now owns 1,295,884 shares of the specialty retailer’s stock worth $28,055,000 after buying an additional 93,220 shares during the period. Finally, State Street Corp boosted its stake in shares of MarineMax by 6.7% in the first quarter. State Street Corp now owns 666,505 shares of the specialty retailer’s stock worth $14,431,000 after buying an additional 41,706 shares during the period. Institutional investors and hedge funds own 91.45% of the company’s stock.
MarineMax (HZO) traded up 10.10% during midday trading on Thursday, reaching $16.35. The company’s stock had a trading volume of 904,106 shares. The firm has a market capitalization of $429.33 million, a PE ratio of 16.35 and a beta of 1.01. MarineMax has a 52 week low of $13.80 and a 52 week high of $23.65. The stock has a 50 day moving average of $17.98 and a 200 day moving average of $19.96.
MarineMax announced that its board has authorized a share buyback plan on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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