MarineMax, Inc. (HZO) Issues FY18 Earnings Guidance
MarineMax, Inc. (NYSE:HZO) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $1.10-1.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.13.
A number of brokerages recently issued reports on HZO. Ifs Securities reiterated a strong-buy rating and issued a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. B. Riley restated a buy rating and set a $19.75 price target on shares of MarineMax in a research report on Wednesday, September 20th. Citigroup Inc. raised their price target on MarineMax from $18.00 to $20.00 and gave the company a buy rating in a research report on Monday, October 2nd. Forward View downgraded MarineMax from a buy rating to a hold rating in a research report on Monday. Finally, BidaskClub downgraded MarineMax from a hold rating to a sell rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $21.79.
Shares of MarineMax, Inc. (NYSE HZO) traded up 24.7599% on Tuesday, hitting $18.9635. The stock had a trading volume of 535,862 shares. MarineMax, Inc. has a 12 month low of $13.80 and a 12 month high of $23.65. The company has a 50 day moving average price of $16.36 and a 200-day moving average price of $17.53. The stock has a market cap of $460.36 million, a PE ratio of 18.9635 and a beta of 0.97.
MarineMax (NYSE:HZO) last issued its quarterly earnings results on Monday, October 30th. The specialty retailer reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $250.62 million for the quarter, compared to the consensus estimate of $231.96 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities research analysts anticipate that MarineMax, Inc. will post $0.89 earnings per share for the current year.
MarineMax declared that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Dean S. Woodman sold 3,000 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 15,193 shares in the company, valued at $227,895. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $17.00, for a total transaction of $42,500.00. The disclosure for this sale can be found here. Insiders sold a total of 10,500 shares of company stock worth $167,500 over the last 90 days. Insiders own 5.00% of the company’s stock.
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MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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