MarineMax (NYSE:HZO) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

MarineMax (NYSE:HZO) issued its earnings results on Thursday. The specialty retailer reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.16, Briefing.com reports. The company had revenue of $757.72 million for the quarter, compared to the consensus estimate of $720.30 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. MarineMax updated its FY24 guidance to $2.20 to $2.30 EPS and its FY 2024 guidance to 2.200-3.200 EPS.

MarineMax Trading Up 0.2 %

Shares of NYSE HZO traded up $0.06 during trading hours on Friday, hitting $37.16. 569,057 shares of the company traded hands, compared to its average volume of 335,113. The stock has a market capitalization of $828.67 million, a price-to-earnings ratio of 13.46 and a beta of 1.83. The company has a current ratio of 1.24, a quick ratio of 0.34 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average price is $32.30 and its 200 day moving average price is $30.89. MarineMax has a 12 month low of $22.51 and a 12 month high of $42.88.

Analyst Ratings Changes

HZO has been the topic of a number of research reports. Stifel Nicolaus lifted their price objective on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Truist Financial upped their price objective on MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. B. Riley cut their target price on MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, DA Davidson boosted their target price on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.75.

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.