MarineMax, Inc. (NYSE:HZO) – Analysts at Wedbush cut their FY2017 earnings per share estimates for MarineMax in a research note issued on Friday. Wedbush analyst J. Hardiman now forecasts that the specialty retailer will post earnings of $0.97 per share for the year, down from their prior estimate of $1.02. Wedbush also issued estimates for MarineMax’s Q4 2017 earnings at $0.19 EPS and FY2018 earnings at $1.24 EPS.

A number of other equities analysts have also issued reports on HZO. B. Riley reissued a “buy” rating and issued a $26.00 price objective on shares of MarineMax in a report on Wednesday, May 3rd. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered MarineMax from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, Citigroup Inc. reissued 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. MarineMax has a consensus rating of “Hold” and a consensus target price of $23.33.

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Shares of MarineMax (NYSE HZO) opened at 15.05 on Monday. The firm has a market capitalization of $365.35 million, a PE ratio of 15.05 and a beta of 1.00. The stock has a 50 day moving average price of $16.78 and a 200 day moving average price of $19.59. MarineMax has a 12-month low of $13.80 and a 12-month high of $23.65.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the consensus estimate of $0.68 by $0.11. The business had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share.

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of MarineMax by 12.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock worth $101,000 after buying an additional 498 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of MarineMax during the first quarter worth about $116,000. Mason Street Advisors LLC raised its position in shares of MarineMax by 5.2% in the first quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock worth $123,000 after buying an additional 282 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of MarineMax during the first quarter worth about $133,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of MarineMax by 2.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock worth $192,000 after buying an additional 240 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

MarineMax declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 2nd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

MarineMax Company Profile

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.

Earnings History and Estimates for MarineMax (NYSE:HZO)

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