MarineMax (NYSE:HZO) Issues FY24 Earnings Guidance

MarineMax (NYSE:HZO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.20-3.20 for the period, compared to the consensus earnings per share estimate of $3.35. MarineMax also updated its FY 2024 guidance to 2.200-3.200 EPS.

Analyst Ratings Changes

A number of equities analysts have issued reports on HZO shares. DA Davidson reissued a buy rating and set a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. StockNews.com cut shares of MarineMax from a hold rating to a sell rating in a research report on Saturday, January 27th. Finally, Truist Financial boosted their price objective on shares of MarineMax from $40.00 to $45.00 and gave the company a buy rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $39.00.

MarineMax Stock Down 2.7 %

Shares of NYSE:HZO opened at $27.18 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.35. The firm has a market capitalization of $606.11 million, a PE ratio of 6.73 and a beta of 1.69. The firm’s 50-day moving average is $30.45 and its two-hundred day moving average is $31.52. MarineMax has a 1 year low of $25.60 and a 1 year high of $42.88.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, January 25th. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The company had revenue of $527.30 million for the quarter, compared to analyst estimates of $524.76 million. During the same period in the prior year, the firm posted $1.24 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that MarineMax will post 3.33 EPS for the current year.

Insider Activity at MarineMax

In related news, EVP Charles A. Cashman sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the transaction, the executive vice president now directly owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Clint Moore sold 4,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the sale, the director now directly owns 20,544 shares of the company’s stock, valued at $639,329.28. The transaction 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 stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the sale, 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. 4.00% of the stock is currently owned by corporate insiders.

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.