MarineMax (NYSE:HZO) Releases FY24 Earnings Guidance

MarineMax (NYSE:HZO) issued an update on its FY24 earnings guidance on Thursday morning. 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.

MarineMax Stock Performance

Shares of HZO stock opened at $25.37 on Friday. MarineMax has a one year low of $22.51 and a one year high of $42.88. The company has a market cap of $565.75 million, a P/E ratio of 9.19 and a beta of 1.69. The firm has a 50-day moving average of $30.20 and a 200-day moving average of $31.43. 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 (NYSE:HZO) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.55). The firm had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. MarineMax’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. Equities research analysts forecast that MarineMax will post 3.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HZO shares. Stifel Nicolaus lowered their target price on MarineMax from $37.00 to $35.00 and set a buy rating on the stock in a research note on Friday. Truist Financial lowered their price objective on shares of MarineMax from $40.00 to $35.00 and set a buy rating on the stock in a research report on Friday. DA Davidson reissued a buy rating and set a $34.00 target price on shares of MarineMax in a research report on Friday, March 15th. Finally, StockNews.com cut shares of MarineMax from a hold rating to a sell rating in a report on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $35.40.

Insider Buying and Selling at MarineMax

In other news, EVP Charles A. Cashman sold 7,500 shares of MarineMax 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 directly owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MarineMax news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $29.76, for a total transaction of $223,200.00. Following the completion of the sale, the executive vice president now owns 63,981 shares in the company, valued at $1,904,074.56. The disclosure for this sale can be found here. Company 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.