MarineMax (NYSE:HZO) Updates 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on HZO. StockNews.com downgraded MarineMax from a hold rating to a sell rating in a research report on Saturday, January 27th. Truist Financial upped their target price on MarineMax from $40.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Finally, DA Davidson reiterated a buy rating and issued a $34.00 price target on shares of MarineMax in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $39.00.

MarineMax Stock Down 2.7 %

Shares of HZO opened at $27.18 on Thursday. MarineMax has a 52 week low of $25.60 and a 52 week high of $42.88. The stock has a market capitalization of $606.11 million, a price-to-earnings ratio of 6.73 and a beta of 1.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 1.28. The stock has a fifty day moving average of $30.45 and a 200-day moving average of $31.52.

MarineMax (NYSE:HZO) last announced its quarterly earnings results 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 net margin of 3.75% and a return on equity of 10.44%. The firm had revenue of $527.30 million during the quarter, compared to the consensus estimate of $524.76 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MarineMax will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Charles A. Cashman sold 7,500 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 63,981 shares in the company, valued at $1,904,074.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other MarineMax news, Director Clint Moore sold 4,000 shares of the stock in a transaction dated Monday, March 11th. The stock was 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 in the company, valued at approximately $639,329.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles A. Cashman sold 7,500 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the sale, the executive vice president now 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 owned by corporate insiders.

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.