MarineMax (NYSE:HZO) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of MarineMax from a hold rating to a sell rating in a research report on Saturday, January 27th. Stifel Nicolaus reduced their price target on shares of MarineMax from $37.00 to $35.00 and set a buy rating for the company in a research report on Friday. DA Davidson reaffirmed a buy rating and set a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. Finally, Truist Financial reduced their price target on shares of MarineMax from $40.00 to $35.00 and set a buy rating for the company in a research report on Friday. One investment 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, MarineMax presently has a consensus rating of Moderate Buy and a consensus target price of $35.40.

MarineMax Stock Performance

Shares of NYSE:HZO traded down $0.23 during mid-day trading on Friday, reaching $25.37. 455,253 shares of the company traded hands, compared to its average volume of 402,171. The company’s 50 day moving average price is $30.20 and its 200-day moving average price is $31.44. The firm has a market cap of $565.75 million, a PE ratio of 9.20 and a beta of 1.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.35. MarineMax has a 52 week low of $22.51 and a 52 week high of $42.88.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). The company had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. On average, equities analysts expect that MarineMax will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling at MarineMax

In other MarineMax news, Director Clint Moore sold 4,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction 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 approximately $639,329.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other MarineMax news, Director Clint Moore sold 4,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction 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 approximately $639,329.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $223,200.00. Following 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. Insiders own 4.00% of the company’s stock.

About MarineMax

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.