MarineMax (NYSE:HZO) Issues FY 2022 Earnings Guidance

MarineMax (NYSE:HZO – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $7.90-$8.30 for the period, compared to the consensus EPS estimate of $7.88. The company issued revenue guidance of -.

A number of brokerages have recently commented on HZO. StockNews.com began coverage on shares of MarineMax in a report on Thursday, March 31st. They set a buy rating on the stock. Raymond James lifted their price target on shares of MarineMax from $67.00 to $70.00 and gave the stock an outperform rating in a report on Friday, January 28th. Zacks Investment Research upgraded shares of MarineMax from a hold rating to a strong-buy rating and set a $47.00 price target on the stock in a report on Tuesday, May 3rd. Citigroup cut their price target on shares of MarineMax from $52.00 to $42.00 and set a neutral rating on the stock in a report on Tuesday, April 19th. Finally, Truist Financial cut their price target on shares of MarineMax from $62.00 to $54.00 in a report on Wednesday, January 26th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $57.50.

HZO stock traded up $0.51 during midday trading on Tuesday, hitting $45.01. The stock had a trading volume of 2,150 shares, compared to its average volume of 440,593. The firm has a market cap of $969.16 million, a P/E ratio of 5.56 and a beta of 1.60. The company has a current ratio of 1.70, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. MarineMax has a 1-year low of $35.60 and a 1-year high of $70.89. The business has a fifty day moving average price of $42.21 and a two-hundred day moving average price of $48.66.

MarineMax (NYSE:HZO – Get Rating) last released its earnings results on Thursday, April 28th. The specialty retailer reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.59. MarineMax had a net margin of 8.23% and a return on equity of 29.39%. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $541.34 million. During the same quarter in the previous year, the business earned $1.69 earnings per share. MarineMax’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that MarineMax will post 8.26 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in HZO. Sei Investments Co. raised its holdings in shares of MarineMax by 49.4% during the fourth quarter. Sei Investments Co. now owns 300,075 shares of the specialty retailer’s stock valued at $17,716,000 after purchasing an additional 99,219 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of MarineMax by 1,739.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 28,659 shares of the specialty retailer’s stock valued at $1,692,000 after purchasing an additional 27,101 shares during the period. Morgan Stanley raised its holdings in shares of MarineMax by 17.5% during the second quarter. Morgan Stanley now owns 176,278 shares of the specialty retailer’s stock valued at $8,591,000 after purchasing an additional 26,268 shares during the period. UBS Group AG raised its holdings in shares of MarineMax by 62.1% during the third quarter. UBS Group AG now owns 35,533 shares of the specialty retailer’s stock valued at $1,724,000 after purchasing an additional 13,614 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of MarineMax by 59.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 34,096 shares of the specialty retailer’s stock valued at $2,013,000 after purchasing an additional 12,657 shares during the period. Hedge funds and other institutional investors own 97.68% of the company’s stock.

About MarineMax (Get Rating)

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates through 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, pontoon boats, ski boats, jet boats, and other recreational boats.

Further Reading